Credit card transaction
Querist : Anonymous
We make payment for the co expenses from the personal credit card in the name of the proprietor. Also we make the deposit in the personal credit card from the co. bank account. How to make accounting entries for the same in Tally.
Expenses Dr
to ABC (personal Credit Card Holder)
(Expense booked)
ABC dr
to Cash
(Cash Deposit in bank)
In books of Card holder
Company A/c Dr
to Bank
(Expense Paid on Behalf of Co.)
Bank A/c dr
to Company
(Amount Recd for exp made on behalf of Co.)
Querist : Anonymous
Expenses Dr. xxx
To Capital Account Cr. xxx
This is not a correct entry.
Querist : Anonymous
expenses Dr. xxx
To Proprietor current account Cr. xxx
Click here to login now
Similar Resolved Queries
- Tax on capital gains revoked us 54f
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Inventory of finished goods
- Filing of Form 10BB instead of Filing Form 10B
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- Applicability of Ind As to associate of associate
- Last year input claim shown in gstr9
- GST Registration Cancellation books of accounts asked by officer
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- HSN Details in IFF/GSTR-1 & in GSTR 9
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
