We are paying on one's behalf and will get reimbursement
One Dr
To Bank
Bank Dr
To one
But what about journal for Debit Note.
That party was late in making electricity payment and we are paying with reimbursement winfiw
Pl guide
Menu
Journal entry on issuance of debit note
Replies (1)
Actually
Dr. Purchases
Cr. Payables
when you purchased something
Dr. Payables
Cr. Bank
When you paid for it.
Dr. Income statement (closing inventory)
Cr. Inventory
What you purchased is gone into inventory
Dr. Receivables
Cr. Reimbursement claim
When your waiting for One to pay you back.
Dr. Debit note/Purchases
Cr. Purchases
When you returned goods. But you didnt return anything here, so why do you need a debit note?
I meant you cant return electricity bill.
Recent Threads
- Building a Strong Financial Foundation: Key Accoun
- Long Term Capital Gains for shares
- Hiring Company Secretary Manager with 2 Years of P
- Updated Return _ Deduction
- Turf Club Veterinary Department. Procurement Manua
- I have wrongly shown itc in reclaimable itc inste
- Help reqd in getting Professional Tax challan
- New form 139 as per Tax Act 2025
- In GST maintain invoices or bill in excel instead
- How to paid income tax in block return in itrb
Related Threads
CAclubindia
