Expenses

This query is : Resolved 

09 March 2012 If payment made by partners to pay his personal expenses e.g.personal credit card exp paid, his home mahanagar gas , cloths, food , pmt made to his relatives , his home electricity exp, and other his personal exp by current account then how do we record those expenses meanse under which head.

09 March 2012 Such expenses should be debited to Drawings Account.

09 March 2012 All personal expenses related to the partner is considered as Drawing and written off their capital.


09 March 2012 In Company Case the director personal expenses deduct from their salary or commission.



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