a company reimburses its employees the telephone bills, car expenses etc.
what will be the accouunting treatment? under whta head will these reimbursement be accounted for?
please reply asap. thanx
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Accounting for reimbursement
Replies (1)
It will form as part of perquisites given to employees bcoz these expenses are reimbursed by co. which is an employee's obligation.
therefore it is an expense to company
entry will be
Salary Dr.
Other allowances & perquisites Dr.
To Employee
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