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Treatment of bills in the name of director in companies

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 March 2012 Dear sir please tell me how to record the expenses bills which are in the name of director and 1.paid in cash or 2. paid by cheque of the company's bank. please clarify with the accounting entries.
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Amit Jain

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Amit Jain (Expert)
01 March 2012 It depends wheater you will be claiming it from the director or not. If yes, it would be expenses acc./cash or bank. If not and you are booking it as an expenses then expenses dr /cash or bank
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anurag

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anurag (Expert)
01 March 2012 Imperest Dr
Bank Cr
Expenses Dr
Imperest Cr
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