Tea/Coffee vending machine installed in office
This query is : Resolved
02 January 2020
Hello Experts,
Please explain me what will be accounting treatment for purchase of Tea/coffee powder for Tea/coffee machine installed in office? This machine is on rental basis. What will be the correct ledgers to be prepared? Also how to show rental charges of machine?
Please explain me what will be accounting treatment for purchase of Tea/coffee powder for Tea/coffee machine installed in office? This machine is on rental basis. What will be the correct ledgers to be prepared? Also how to show rental charges of machine?
02 January 2020
No need enter the machine in Your books... Rent for Vending Machine under indirect expense...
02 January 2020
What about purchase of Tea/coffee powder to be filled in that machine? under which head expense to be shown?
02 January 2020
It's also under Indirect expenses as Labour/Staff welfare Expenses
03 January 2020
Expenses on purchase of pre-mix powder may be booked under staff welfare / entertainment. No input on pre-mix powder as it is food item.
22 May 2020
Since it is on Rent Basis it is not an Asset and all the expense incurred for the same in regards to beverages should be debited to Staff Welfare Account. Monthly Rent is an Indirect Expenses. You might also have given some Security Deposit for the machine which will be treated debited to "DEPOSITS AND ADVANCES" in the books of accounts
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