director exp

Dear Gaurav,

You are not supposed to treat the pvt company at par with a partnership or propreitorship. Corporate cos are separate entity. So, payments made to the directors are to be kept under suspense account and reverse entry after the expenditure voucher recd from the director, or treat such expenses as their allowances which are to be taxed in their hands and the appropriate tds provisions are also apply.

regards

You can create the group under indirect exp. name of director expenses and create sub ledger

Vehicle runing & maintenance under director exp.

mobile phone exp. under director exp. etc.

now you have seen the trial you have exact figure of director exp.  in this monthe and and year

hope your query is solved out