31 January 2017
what will be the accounting entry for an Event Management Company which has charged its customer for the materials bought for the event+ the services provided by it? What will be taxable value?
31 January 2017
No, generally they don't buy. But for this particular event, they bought refreshments for a crowd of 120. It was a talk event organised on behalf of Career Launcher.
31 January 2017
As per ur reply this is a simple reimbursement expenses which u had done on behalf of ur client. So treat it as expense of the client. The entry should be like this. (At the time of Expense) :- Client Dr To Bank (At the time of receipt from the client) :- Bank Dr To Client
And regarding ur service invoice treat it as ur regular service income and charge Service Tax(if applicable). Remember not to charge any kind of tax on the reimbursement bill.
CAclubindia
