Dear team,
One of my client having canteen business.Now he want to do return of this business.
Which are the expenses i can show in profit and loss account.
Reply urgently
regards
santosh
santosh patil (Finance Professional) (275 Points)
20 November 2013Dear team,
One of my client having canteen business.Now he want to do return of this business.
Which are the expenses i can show in profit and loss account.
Reply urgently
regards
santosh
Prashanth S K
(Practice)
(148 Points)
Replied 20 November 2013
Dear Santhosh,
Are books of accounts maintained on a rough basis or are there any supportings for any expenditure incurred?
santosh patil
(Finance Professional)
(275 Points)
Replied 20 November 2013
Sachin More
(MBA-Finance Executive - accounts & Finance)
(422 Points)
Replied 20 November 2013
expenses realted to catering like. raw-food, labours, exp. related to fuel etc. u can show as in p& l a/c
CA Suryakant Dubey
(CA )
(931 Points)
Replied 21 November 2013
Classify the expenses as per it nature....Track the expenses from its related cash & bank payments....
Kifayatullah Khan
(Student CA Final )
(21 Points)
Replied 23 November 2013
Dear santosh,
In your case expenses should be booked as per its natuire as follows(Under Operating Expenses):
Purchase A/c :Purchase of Vegetables, Food, Grocery, Fruits, Drinks, Mineral Water, Milks, Freshner, etc. should come under Purchase A/c.
Accounts under Direct Expenses : Electricity Expenses, Gas & Fuel Expenses, Consumables, Crockery & Utensils, Rent for Utensils, Clean-Up Charges, Water Charges, etc.
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