31 July 2023
Hello, Can anyone help me in this query,
How to record following Expenses which were borne by Managing Director/Promoter in the Books of Pvt. Ltd. Company:
1) Registration fees of Private Limited company 2) Advance to salary/worker 3) Site Expenses 4)Petrol/ diesel Expenses 5)Room Deposits 6)Workmen's Compensation Policy
Note: Incorporation Dated of Private limited Co. is 05/06/2023 Date on which Bank Account was opened for operation for Pvt Ltd.20/07/2023 There was a delay in getting bank account opened hence few expenses for the month of June & July were paid from MD personal accounts.
31 July 2023
Reimburse the expenses as preliminary expenses to the MD. Preliminary expenses examples are those incurred Prior to the creation of the company, the entrepreneurs. Postage taxes paid. Any other costs incurred in bringing the business into function.
CAclubindia
