Himanshu Dave (Learner) (55 Points)
02 August 2011Dear All,
Could any one send me the whole accounting procedure to account advance to emp which will be adjusted against their monthly expenses.?
Himanshu
nidhi agrawal
(chartered accountant)
(76 Points)
Replied 02 August 2011
when Advance is given
Advance for Expenses Dr
To cash
when Bills are submitted by Employee
REspective Expense A/c Dr
To Advance for expenses
Himanshu Dave
(Learner)
(55 Points)
Replied 02 August 2011
Thank you Nidhi
What would be the grouping for advance for empenses.?
nidhi agrawal
(chartered accountant)
(76 Points)
Replied 02 August 2011
Advance for expenses will come under current asset
Aparna Raja K.C
(Student)
(520 Points)
Replied 03 August 2011
Advance A/c Dr.
To Mr. A's A/c
Later same being Deducted from his salary.. <if so>
Salary A/c Dr.
To Mr. A's A/c
To Advance A/c
V.MASTHANVALI
(ACCOUNTS EXECUTIVE)
(89 Points)
Replied 04 August 2011
WHILE GIVING CASH FOR EXPENSES LET US ASSUME FOR TRAVELLING EXPENSES. , IF THE THERE IS IMPREST ACCOUNT FOR CONCERNED EMPLOYEE THEN,
Mr.X Imprest A/c Dr XXXX
To CASH A/c XXXX
AFTER SUBMITTING BILL BY THE EMPLOYEE
TRAVELLING EXPENSES A/C DR XXX
TO Mr.X IMPREST A/C XXXX
surender
(Manager Accounts)
(149 Points)
Replied 04 August 2011
At the time of advance Payment:
Imrest.....(name of employee) A/C Dr.
To cash A/c
Recieving time of bill against such expenses
Related expenses A/c Dr
To Imrest.....(name of employee) A/C
Any Adavnce given comes under current Asests. loans& advance A/C
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
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