Recently My MD went on Triupati Temple and he donated some in Collecting box and he claimed the same amount from company cash. how treat this and which expenses I should post for this. Pls clarify.
Thanks to all
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Donation
Replies (4)
This expense should not be recorded in books,as it is personal expenditure and MD cannot claim such amount from company's cash
Treat that expenses as drawings as there is no proper evidence. There is no problem if it is small amount. If amount little huge, Take represention letter and treat that expenses as sundry expenses. Is that tour is personal or business purpose ?? If personal purpose he cannot claim those expenses.
Thank you sir
The said expenditure is not allowed but if you want to make payment for the same and recorded than you may recorded by debited to difectors' personal account and credited to bank/ carsh account .
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