out of pocket expenses

A/c entries 983 views 1 replies

545 Points Joined December 2007

How Out of Pocket expenses to be accounted in case we issue Bills and we Receive Bills ?

Please give accounting entries to understand..

Replies (1)

Guest

I think that you are not cleared for Out of Pocket Expenses

Generally out of pocket expenses are paid to the employee. In such cases the account of Staff Welfare Expenses should be debited.

As the expenses paid o the employee, hence no bill required, payment should be given on the basis of claim bill submitted by the employee

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