HOW TO PASS RENT RECEIVABLE ENTRY JV

WE PAID 25000/- RENT ON THE BEHLF OF COMPANY PARTNER , IN OUR BOOK OF ACCOUNT , WE HAVE TO BOOK THE ENTRY IN JV , CAN YOU PLZ ADVISE HOW TO PASS PARTNER RENT RECEIVABLE ENTRY

Replies (7)
Quick Summary
This discussion addresses how to record rent payments made by a company on behalf of a partner. The core issue is how to book this as a receivable entry using a journal voucher (JV). Responses suggest that if the rent is a company expense, the entry is straightforward. However, if paid on behalf of a partner, it's often treated as drawings, with the entry being a debit to the partner's drawing account and a credit to the bank account.

As per Your query, You paid rent behalf of partner.
Then Why you want to enter it...??

Can You give reason...???
Give reason, then You can get exact reply from members...

Depends on the partnership agreement. If the rent is payable by the firm entry is simple. If the agreement is silent rent paid on behalf of a partner with the permission of all partners is to be treated as drawings 

Originally posted by : RAJA P M
opening quote As per Your query, You paid rent behalf of partner.Then Why you want to enter it...??Can You give reason...???Give reason, then You can get exact reply from members...  

sir

we are paying rent on the behalf of partner  every month , as per company policy , i  have to pass rent entry and book the receivable entry against rent , can you please advise 

 

In your Cash./bank book the entry follows. 

 

partners drawing account debit

bank account credit 

Originally posted by : Tanveer Ahmed gd
opening quote


Originally posted by : RAJA P M



As per Your query, You paid rent behalf of partner.Then Why you want to enter it...??Can You give reason...???Give reason, then You can get exact reply from members...
 




sir

we are paying rent on the behalf of partner  every month , as per company policy , i  have to pass rent entry and book the receivable entry against rent , can you please advise 

 
closing quote

Can You please show me the entries 

Originally posted by : Rama chary Rachakonda
opening quote In your Cash./bank book the entry follows. 

 

partners drawing account debit

bank account credit 
closing quote

Querist asking PROVISION ENRTY...

 

SO, PLEASE PROVIDE THE REQUIRED ENTRY...ASAP

If we paid rent of the half of other later we have to receive money from them , what will be the entry

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