re:reimbursement of expenses
This query is : Resolved
01 February 2010
we are C& f agents of petroleum company.we receive commission & reimbursement from petroleum company.
i want to know what is accounting entry for reimbursement.whether we have to open reimbursement expenses a/c.whether it will come under indirect expenses.
i want to know what is accounting entry for reimbursement.whether we have to open reimbursement expenses a/c.whether it will come under indirect expenses.
01 February 2010
You have to Credit the particular expenses which you got reimbursement- if previously booked expenses other wise which head you debited previously you need to credit the particular account
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