Accounting Entry for Claims
Querist : Anonymous
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)
Querist : Anonymous
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