cash payment
This query is : Resolved
15 November 2008
one of our staff went to kolkata for investigating on purchase of machine from Germany.so in which A/c head it may go.
thank you with regards
thank you with regards
15 November 2008
few things need to be considered
1 did ur staff go to Kolkatta only for machine purchase..if no u hv to account it as capital exp.
2 If yes....then u need to see if he went there regarding purchse of machine...that is pur of machine has been finalized before he went there...if yes...travel exp need to be capitalized.
In ur ques it appeard that the staff wnt to kolkatta to Investigate the machine...that is decision to pur the machine was not final...therefore it cannot be capitalised but has to booked in P/L a/c as travel exp.
1 did ur staff go to Kolkatta only for machine purchase..if no u hv to account it as capital exp.
2 If yes....then u need to see if he went there regarding purchse of machine...that is pur of machine has been finalized before he went there...if yes...travel exp need to be capitalized.
In ur ques it appeard that the staff wnt to kolkatta to Investigate the machine...that is decision to pur the machine was not final...therefore it cannot be capitalised but has to booked in P/L a/c as travel exp.
15 November 2008
Debit traveling expenses if the entity is a going concern.
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