I have a Pvt Ltd company, and we make lots of expenses. like Ganesh Visarjan, Navratri, office trips, and gifts for employees. Can you please explain which account ledger is affected by all the above expenses?
I have a Pvt Ltd company, and we make lots of expenses. like Ganesh Visarjan, Navratri, office trips, and gifts for employees. Can you please explain which account ledger is affected by all the above expenses?
These are booked under a ledger named "Festival Expenses" or similar. Some companies may show them under Staff Welfare Expenses if the celebration is primarily for employees.
Purpose: Records expenses related to office celebrations, religious festivals, and employee events.
These costs go to the "Travel Expenses" or "Staff Welfare Expenses" ledger, depending on the nature of the trip.
Such expenses include travel, accommodation, and meals related to company-sponsored trips for employees.
Gifts given to employees are typically booked under "Staff Welfare Expenses" or "Employee Benefits", as these relate to the welfare or incentive of employees rather than clients.
If gifts are part of employee recognition, “Employee Incentives” or similar accounts can also be used.
V.K. Ranjan & Co(Chartered Accountants)
New Delhi
B.Com
View Details
CAclubindia
