Pvt ltd companies books of account
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 July 2013
Sir,
I have a query regarding the books maintained by some clients
Can employees salary be paid out of OD??
Can personal expense of the directors should be entertained from companies bank account??
And that too when the book indicates huge profits being earned by the company with continuous growth in their turnover??
Sir plz reply to my query as early as possible.
Regards
I have a query regarding the books maintained by some clients
Can employees salary be paid out of OD??
Can personal expense of the directors should be entertained from companies bank account??
And that too when the book indicates huge profits being earned by the company with continuous growth in their turnover??
Sir plz reply to my query as early as possible.
Regards
01 August 2013
Yes employees salary can be paid out of OD as it is a working capital arrangement
Even if personal expenses are paid, they should be accounted as recoverable from the directors or recovered if possible
Yes employees salary can be paid out of OD as it is a working capital arrangement
Even if personal expenses are paid, they should be accounted as recoverable from the directors or recovered if possible
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