Travelling expenses
This query is : Resolved
27 March 2019
Travelling expenses accounting Entry
Query
If one Company's Director is also partner in another firm.
Another Partner's have travel for business purpose & payment was done by director on behalf of another partner's. Payment done through credit card (credit card register with Director company Accounts)
What entry pass in Director's company account & Partner's firm books of accounts.
Query
If one Company's Director is also partner in another firm.
Another Partner's have travel for business purpose & payment was done by director on behalf of another partner's. Payment done through credit card (credit card register with Director company Accounts)
What entry pass in Director's company account & Partner's firm books of accounts.
Shashikant Varshney
(Expert)
29 March 2019
Company's Account.
Book as payment to director for personal Expenses. Reduce from his current account or Salary payment.
Partnership's Account
Book as travelling expenses, paid by partner and increase the capital account/current account of the partner (director)
Book as payment to director for personal Expenses. Reduce from his current account or Salary payment.
Partnership's Account
Book as travelling expenses, paid by partner and increase the capital account/current account of the partner (director)
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