CA Dauzi Pathan Imran Khan (Chartered Accountant in Practise) 24 August 2012
Can anybody tell me the procedure for the following?
I am working in Vehicle Dealership organisation, which is following Tally E.R.P 9 as accounting package.
Our organisation will spend some money as advertising (Hordings, Camps etc.,) and the amount so spent will be reimbursed by the Company of which vehicles our organisation dealing. My problem is
What is procedure to make an entry for spending expenditure (which will be reimbursed)? Can we create ledger under head of sundry debtors? if so, what is the procedure???
Vineet (Assistant Manager) 24 August 2012
At the time of expense
Promtion expenditure ac debit to
debtor account debit to
promotion expenditure account ac
bank account debit to
(received the reimbursement)
you can choose any expense account to temporarily park the expense or create a different account if such entries are large in nature.
Hope it answer your question..