Tratment of expense telephone or water

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This query is : Resolved

gaurav (Querist)

23 June 2017 MY DJB BILL 5000/-, At the time of expense booking i booked below entry. Please tell me is it ok or not and how to treat with DJB A/C

Please reply fast

water expenses --dr
water expenses payable --cr

Amol S Joglekar

Amol S Joglekar (Expert)

23 June 2017 what is the long form of DJB?

Amol S Joglekar

Amol S Joglekar (Expert)

23 June 2017 Assuming DJB to be electricity and water supplier
When bill is received
Debit water chares
Debit Electricity charges
Credit DJB

at the time of payment
Debit DJB
Credit Cash/Bank as the case may be

gaurav

gaurav (Querist)

23 June 2017 what abount payable entries like

telephone exp--dr
telephone exp. payable --cr

my confusion is that at the time of credit what a/c to be selected payable or a/c name(DJB)

Amol S Joglekar

Amol S Joglekar (Expert)

23 June 2017 payable entry comes only at the time of year end.......

gaurav

gaurav (Querist)

23 June 2017 But sir we booked every month at the time of salary exp

Amol S Joglekar

Amol S Joglekar (Expert)

23 June 2017 see, try to understand.....
EITHER credit payable account OR credit suppliers account(like DJB in your case)
both at a time is not possible.

gaurav

gaurav (Querist)

23 June 2017 ok If i credit DJB or payalbe(any one of them) my entry is not wrong

Amol S Joglekar

Amol S Joglekar (Expert)

23 June 2017 yes. But follow the same practice......dont change the practice every month or so.....

gaurav

gaurav (Querist)

23 June 2017 Thnak you so much sir for your support

Amol S Joglekar

Amol S Joglekar (Expert)

23 June 2017 you are most welcome.