The name itself indicates that this traveling expense relates to expenses incurred by entity employees or directors. The purpose of travel shall be related to the entity's business operations. Therefore, the purpose shall not be personal. Traveling expenses … [Read more...] about Travelling Expenses – Meaning, Examples and Journal Entries
Accounting
Staff Welfare Expenses
Staff Welfare Expenses (SW) are the expenses incurred to benefit the entity's employees. These expenses are not like direct payments to employees working for the business. SW expenses can be non-monetary, such as Gifts, Refreshments, reimbursements to employees for … [Read more...] about Staff Welfare Expenses
Stationery Journal Entry
Purchased Stationery JE is an expense. Recording stationery expenses is simple. How's the JE output? There is an alternative treatment. Credit GL can be different. Credit can be either to Estimated Time to Read: Accounting records all the financial … [Read more...] about Stationery Journal Entry
Goods lost by fire Journal Entry
Are you wondering how to record a Goods Lost by Fire journal entry? Goods Lost by Fire are similar to any other Loss to the business; the only difference here is that the Loss is in the form of the goods. Therefore, the goods that are purchased are lost due to … [Read more...] about Goods lost by fire Journal Entry
Cheque Dishonoured Journal Entry
What does a Cheque Dishonoured Journal entry mean? That means a reversal of the following: Let's learn journal entries for each of the scenarios. Cheque Dishonoured Journal Entry Scenario I: The entity pays its vendor through a Cheque. The Journal Entry (JE) … [Read more...] about Cheque Dishonoured Journal Entry