Hai,
My company provides lunch to employees for payment basis without profit. Not any outside person supplies internally prepared.
Now my doubt is at the time of provisions purchase amt booked expenditure heads (staff welfare) after collecting amount from employees though salary is it reverse to same expenditure head ( staff welfare) or that amount shows as other income. Which is right... Can u suggest me...
Purchases while booking grocery supplies and other income
Thanks for ur suggestion. Purchase is book as expenditure and collection as shows in other income. P&l account expenses and income bothe reflect. Am I right sir.
Hi GVinod,
At the time of Purchase
Expenses A/C Dr
To Cash/Supplier A/C
At the time collecting amount from employee
Salaries & Wages A/C Dr
To Income (Under Indirect Income)
To Salary Payable Account a/c (Under Current Liability)
CCI
Pro
CAclubindia
