We are paying on one's behalf and will get reimbursement
One Dr
To Bank
Bank Dr
To one
But what about journal for Debit Note.
That party was late in making electricity payment and we are paying with reimbursement winfiw
Pl guide
Menu
Journal entry on issuance of debit note
Replies (1)
Actually
Dr. Purchases
Cr. Payables
when you purchased something
Dr. Payables
Cr. Bank
When you paid for it.
Dr. Income statement (closing inventory)
Cr. Inventory
What you purchased is gone into inventory
Dr. Receivables
Cr. Reimbursement claim
When your waiting for One to pay you back.
Dr. Debit note/Purchases
Cr. Purchases
When you returned goods. But you didnt return anything here, so why do you need a debit note?
I meant you cant return electricity bill.
Recent Topics :
- TAX TREATMENT AND ACCOUNTING ENTRIEOF PERQUISITES
- Gifting money to my father-in-law (my husband's da
- GSTR-1 JSON from marketplace exports (Myntra / Ama
- Question on buy back of shares
- Saving corporate tax completely on profit from rea
- Hi experts need some helps
- A query regarding GST and Place of Supply:
- ADT-3 not filed by previous Auditor
- Revising salary on 24Q Q4 FY 25-26
- LTCG: Home Loan Principal Repayment?
Related Topics :
CAclubindia
