I want to withdraw cash for some specific work from Bank. it is not petty cash. its for flex & other materials purchase expense.i have withdrwan the cash by writing self on cheq.& given the cash to the related emp.
but while posting entry in Aqura,i have passed paymnet voucher as Advance to (emp.name) under Loans & Advance under current assets & credited bank account. when he will be submitting the bill,will pass a J.v. for booking expenses & credit to Advance to (emp.name)
is this correct entry?????
pls guide SOOOOON
CAclubindia
