Vehicle owned/rented purchased fuel for running vehicle used for marketing for business purpose....
Expense on fuel will treated in profit n loss account as a
fuel exp ???
travelling exp ???
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Expense on Deisel/Petrol
Replies (4)
Quick Summary
In my view it should be fuel expenses
Under the head 'power and fuel' expenses
No, Diesel used for bikes , cars etc to be accounted under conveyance Expenses. Fuel expense is direct expense used for generator in factory or used for production purpose like Furnace oil to lit up fire etc.
Cars and bikes used for commuting from one place to other so conveyance.
This is my opinion, if some one differs please tell why it cannot be conveyance.
Petrol used for bikes, there is no diesel for bike.
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