30 July 2013
How to treat withdrawl of money through atm machines as offical expenses in books.( As we know withdrawl of money through atm mostly for personal purpose ) ?
02 August 2013
The moment you withdraw the money from ATM it is cash in hand and your cash in hand increases. Now, if you have withdrawn the money for incurring expenses then you can make the payment against voucher but if you are making the payment against liability already incurred by staff then you have to book the liability and then make the make to the staff but you should be careful that you are not violating the provisions of Section 40A(3).