Hi Everyone,
Please explain me that, I have done expenses on behalf of employee,
I have done entry in tally.
Expenses a/c Dr
To Cash ac/
But I want to debit to employee.what is journal entry.
I am wainting for Valuable reply from all of you sir.
Abdul Razak (Accountant) (95 Points)
08 November 2014Hi Everyone,
Please explain me that, I have done expenses on behalf of employee,
I have done entry in tally.
Expenses a/c Dr
To Cash ac/
But I want to debit to employee.what is journal entry.
I am wainting for Valuable reply from all of you sir.
Hitesh
(Chartered accountant)
(382 Points)
Replied 08 November 2014
SHINY
(CA Final Student)
(699 Points)
Replied 08 November 2014
The correct Journal Entry is :
Employee A/c ...Dr
To Cash
CA Parul Saxena
(CA)
(8426 Points)
Replied 10 November 2014
Expense account Dr..........................................................................................................................
To Cash.............................................................................................................................................
(Being expense incurred on behalf of employee(name))
If employee pays the amount:-
Cash A/c Dr...................................................................................................................................
To Expense..........................................................................................................................................
(Being amount received from the employee for the exp.incurred earlier on behalf of the employee)
rohit
(Student CA Final )
(117 Points)
Replied 06 December 2014
Expenses can't be booked because it is not your business expenses. therefore the enry would be:
Employee A/c Dr. & Cash Cr.
V P Narasimhan
(Accounts Manager)
(791 Points)
Replied 22 December 2014
If employee a/c can't be opened (normally won't prefer) we can create an a/c called
Amount Recoverable A/c or
Amount recoverable - Employee/s A/c
where an individual's name need not be exhibited.
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