Reimbursement of expenses

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Our company is doing one project in which all expenses done by company will be reimbursed by our customer under whose project company is working. The customer is going to pay Salary, engineering design charges and all charges related to the concern customer's project Then how can I book all expenses for the project and reimbursement of expenses and under which group/s in tally. Anyone can answer me ?
Replies (6)

According to me 

1) you can treat all expenses in head indrect expenses just like normal for convenience in data entry then pass journal entry of final balance to reimbursement receivable or other name under the head current assets. so that when amount recieved by client can be directly adjusted in that account.

2) Another treatement is directly create ledger under the head XYZ co. reimbursement a/c & that account under the head  current asset  and post entry direct in that expenses wise so that ucan adjust amount expense wise 

CAN U SHOW WHAT WILL  BE THE ACTUALLY ENTRY FOR DIS IN TALLY 

CAN YOU GIVE WITH EXAMPLE

 

I have received a electric vehicle purchase reimbursement from my company and they have deducted TDS on that. Shall i have to take this reimbursement amount in my total income while filing the ITR

Hi... can we pass journal entry for reimbursement after payment been done... at would be right entry if so pls let me...

 

In banks I have mentioned as reimbursement amt

when payable expenses are posted under head provisions likewise, receivables  or reimbursement expense under which head in tally or in general manner



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