In many cases you donot know the account head to be used In a subsidery company ... 1) If expenses are made by director of the company like purchase of Laptop bag, water bottel & his mobile battery etc through his company credit card which account should it be debited to ?
2) DD made for acquiring IEC code which expense should be debited?
3) what is difference between Entertainment expense & Hotel loading & boarding.
4)what is difference between Filing fees & Rates & Taxes
31 August 2009
Dear Ami, this really ultimately depends on the choice of the company concerned. Remember we are always guided by the principle- substance over forms. Any attempt to name the accounts would not be a great effort in this regard.
CAclubindia
