Urgent
This query is : Resolved
04 February 2015
The director had gone for business visit , out of town so he reimbursed the hotel expense from his own funds so do I need to pass 1 JV for Stay expense
To Director A/C
another JV for Director
To Cash A/c
To Director A/C
another JV for Director
To Cash A/c
Sandeep Dharar
(Expert)
04 February 2015
I suggest to treat it as simple reimbursement.
Coz its expenses of the Company n, the Director is not responsible to pay it personally.
Hence, record it as Business Promotion Expenses in the books of the Company
Coz its expenses of the Company n, the Director is not responsible to pay it personally.
Hence, record it as Business Promotion Expenses in the books of the Company
04 February 2015
ok but if i reimburse then i have to make the reimbursement entry so do i need to pass 1 more entry for business promotion to director?
And then show it as reimbursed so it will get nullified
And then show it as reimbursed so it will get nullified
Sandeep Dharar
(Expert)
04 February 2015
Riddhi, first pass the entry in Imprest account, and book it into the account of Director.
Imprest(Director) A/c Dr
To Cash
and after that pass the entry as
Business promotion Dr.
To Imprest(Director)
In this way Imprest A/c will b nullified and the entry will b recorded in the books of the company as expenses.
Imprest(Director) A/c Dr
To Cash
and after that pass the entry as
Business promotion Dr.
To Imprest(Director)
In this way Imprest A/c will b nullified and the entry will b recorded in the books of the company as expenses.
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