GRIPS Over the counter payment takes transaction+2 days for confirmation in GRIPS portal, although bank got debited on the date of transaction itself. In this case what is the formal apporach to record the transaction as expense in the books of account of the firm? 1. on transaction date. 2. confirmation date.

What will be the entry if a sole proprietor purchase a fixed asset for the firm with his Bajaj Finance card. Please advice

Abc Company purchased goods from Supplier A & Payment made by Credit Card.
Than will be entry
Dr. Purchase A/c
Cr. Credit Card

But My Question is Credit card which under group

Proprietor Purchased a laptop using his bajaj Finance Card for his firm. and the EMI will deducted from his personal account. what will be the journal entry? and can avail the itc

Company purchased goods worth ₹ 2000. And payment done by staff, not from the company's current account. Now tell me how to record in tally

Dear Experts,
Can a Limited company give unsecured loan? if yes
Can it give loan to Individuals / Pvt. Ltd. Companies / Directors ?

INVERTER BATTERY PURCHASE FOR SECURITY CABIN EXP OR FIX ASSET

cost of an item of property plant & equipment comprises:

the initial estimate of the cost of dismantling, removing the item and restoring the site on which it is located, referring to as decommissioning, restoration and similar liabilities; the obligation for which an Enterprise incurs either when the item is acquired or as a consequence of having used the item during a particular period for purposes other than to produce inventories during the period.

primarily explaination required from "or as a consequence......"

can u please help me with subject issue

company having guest house on rent and agreement is between director and owner. can be book guest rent and expenses related to guest house, in name of company.