Accounting entry of petrol reimbursement

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 April 2015 Dear all
i am contractor and the company is giving petrol reimbursement. please tell me how to pass the petrol reimbursement entry in tally..

plz reply...

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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22 April 2015 book the expense by debiting it in the respective head... and credit the party

Querist : Anonymous

Querist : Anonymous (Querist)

22 April 2015 Sir.. firstly i have incurred the petrol exp. on the behalf of the company after completion of service then i will claim the petrol reimbursement from the company. the accounting entry as per me is...

at the time of buying petrol
petrol reimbursement ( current assets) DR xx
to cash xxxx

company DR. xxxxx
to petrol reimbursement xxxx

when i have claimed
bank DR xxxx
to party xxxx

please tell me is it right accounting entry for petrol reimbursement or not...

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