expense of party on the occasion of completion of 10yr of firm is recorded in which account and what is the title name for it
Replies (5)
Quick Summary
When celebrating a firm's 10-year milestone, the expense of a party needs careful accounting. While often considered miscellaneous, larger sums may be better allocated to Staff and Welfare Expenses or a general Business Expense account, especially if clients are invited. The key is to choose an account that accurately reflects the nature and scale of the expenditure.