Reimbursement
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 May 2013
Hi,
My boss has made a payment to someone from his personal account instead of the company account. How should i reimburse the same amount to my boss. The bill is in the company name. Please reply ASAP.
Please tell the accounting entries for the same.
Thanks in advance
My boss has made a payment to someone from his personal account instead of the company account. How should i reimburse the same amount to my boss. The bill is in the company name. Please reply ASAP.
Please tell the accounting entries for the same.
Thanks in advance
CA Sourabh Agarwal
(Expert)
18 May 2013
Simply pass a Journal Entry debiting the expenses and crediting your boss. Then pay him off and clear you liability.
If bills are in company name, then certainly it is an expenditure for the company.
If bills are in company name, then certainly it is an expenditure for the company.
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