How Out of Pocket expenses to be accounted in case we issue Bills and we Receive Bills ?
Please give accounting entries to understand..
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out of pocket expenses
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I think that you are not cleared for Out of Pocket Expenses
Generally out of pocket expenses are paid to the employee. In such cases the account of Staff Welfare Expenses should be debited.
As the expenses paid o the employee, hence no bill required, payment should be given on the basis of claim bill submitted by the employee
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