please suggest the accounting solutions for some payments made by directors of the company for the expense of a private limited company.
expenses like utility bills, travelling expenses for official tour n other expenses etc...
TIf your company is following standards, the above two fall under imprest accounting that is petty cash. But again classification also depends on the nature of expenses, if it is business tour, it is expensed as travelling expenses. The amount of expenditure classifies it as petty or normal e penditure
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