Sir, With reference to the above please advise we have given cash to a officer as a bribe, which account head we entry this transaction
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Quick Summary
This discussion addresses the difficult question of how to account for a cash transaction involving a bribe. The consensus is that such a transaction is illegal and cannot be formally recorded in company books. While not advisable, some suggest it might be discreetly absorbed into general office overhead over time, rather than booked under misleading expense categories.
Do not book as miscellaneous expenses or promotional expenses it's generally audited. Better to show as office overhead over a period of few days depending upon the credibility.