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How to segregate accounts

Others 407 views 1 replies

isha

student

41 Points Joined December 2013

i had this issue... working in an organisation, they are running both a company and a partnership firm from the same premises... \

now how to segregate all the expenses into them?

as in while preparing the balance sheet & p&l of both firm and company how to maintain the expenses? and even the employees, as they are working together for both

Replies (1)

Manoj Mehta

Head Of Department (Accounts & Finance)

1479 Points Joined March 2009

Dear isha you have do many planning in this case and a proper discussion with your boss. Why? Because it will depend on the owner to decide the ratio of few expenses. For example rent of office can be divided equally or on the basis of area aquired etc. Similary the income which is generated should also have some expenses then allocate it in that proportion. Apply your Mind after discussion with management it is very simple to do and lots of tax planning can be done in the same. Regards