Dear Member,
One of my client want to book flight through his current account and he is sole proprietorship is this expense will entertained his personel expenses or he can entertained this expenses in firm P&L account as a expense please suggest i am waiting
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Sole proprietorship firm owner travel expense for business
Replies (6)
If the expenditure is for business , the take in p and l. else personal expense .
Thanks
Mr. Raj C Doshi one thing is not cleared that sole proprietorship is an individual case then all expense his will shown in P&L or not if not then why please clear
First of all , any personal expense of proprietor Is indirectly Drawings. So it should go under drawings a
..drawings a/c under capital account.
I hope it is clear now.
Thank a lot
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