Rajah (Namesake Director) (68 Points)
07 February 2024How do I account them? I am a partner in a private limited company. Thank you for any help or feedback you may be able to provide!
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 07 February 2024
do the translations and I believe you dont have accruals to deal with translation gains or losses. recognize them asap
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 07 February 2024
I hope you are one of the Director of the company . you can pass entry in the Companies books as follows.
Laptop A/c Dr ( Asset)
To Rajah ( Director ) A/c Cr
( Laptop purchase for Company paid by Rajah)
Show Rajah A/c under Sundry Creditors, liability
side Balance sheet.
Latter on Company will pay back to Rajah
Rajah A/c ( Director ) Dr
To Bank A/c Cr
( payment made to Rajah)
Similarly you Can pass entry for Electronics Items also.If you paid any taxes then you have Debit those taxes in above first entry
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 07 February 2024
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 07 February 2024
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 07 February 2024
| Originally posted by : Yasaswi Gomes new | ||
 |
do the translations and I believe you dont have accruals to deal with translation gains or losses. recognize them asap |  |
I was joking for just once. Since your.a novise recognise translation losses and gains. If you listen to others your auditor will correct you. They try to show off they know better than reporting. It's nothing but do the translations gains and losses or else give me. Cnditions of your credit card with international purchases. Travel card is best.
Rajah
(Namesake Director)
(68 Points)
Replied 09 February 2024
There is no name on the bill. There were purchased in the retail store with my personal credit card.
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 10 February 2024
CAclubindia
