Hi,
Company Purshae T shirt and Visiting Card. i pass journal entry in tally but amount is still pending and financial year is on ending. How can i treat this transaction plz answer ASAP
Thanks in Advance
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Query
Replies (1)
If the above mentioned is purchased for business promotions or to be given to customers/vendors/others-
Business Promotion Expenses Dr. Amount
To Vendor/Cash/Bank A/c Amount
If the above mentioned is purchased for staff-
Staff Welfare Expenses Dr. Amount
To Vendor/Cash/Bank A/c Amount
Note- The nature of expenses will be revenue and will be transferred to p/l account
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