Easy Office
LCI Learning

Accounting Entry for Claims

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
10 April 2010 Receipt of funds against expenses incurred.
For e.g. Travelling expense claimed from Client.
Entry at the time of Incurring the expense is lodged in the books under the relevant head.
At the time of receipt of the equivalent funds from the client (against claim invoice), does the entry need to be into a revenue account or netted off against the same expense ledger account.
Thanks
(Not a true accountant, hence the terms might sound incorrect)
Profile Image

kartik_somu

Profile Image

kartik_somu (Expert)
10 April 2010 net off against the same ledger account
Profile Image

CA Ashok Kumar Sahu

Profile Image

CA Ashok Kumar Sahu (Expert)
10 April 2010 net off against the same ledger account
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

CMA Ramesh Krishnan

Profile Image

CMA Ramesh Krishnan (Expert)
10 April 2010 yes.net of against the same ledger
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
12 April 2010 Thanks Guys.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links