Pvt ltd company current account transactions

I have 2 queries:

1. How the transactions from the company current bank account have to be handled. As we are in the R&D stage so there is no inflow but only outflow. For what all purposes are we allowed and not allowed to withdraw from it?

2. For all those transactions where billing is not possible, how we have to deal with it... Example, if I am traveling by local train and do not get a bill, so how to use the company account?

Replies (1)
1. There is no restriction on outflow. you can expend till you have adequate bank balance.

2. You have to submit your expense claims on a Reimbursement voucher for documentation and transfer that much amount from company account to your saving account. eg in one month , you have paid cash of rs.1000 for train ticket on various dates. at the end of the month , make reimbursement voucher and transfer to your saving account.

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