How should I make an accounting entries for the expenses incurred out of corporate credit card by employees?

post Category: Corporate Credit — admin @ 3:40 pm — post Comments (3)
postSeptember 28, 2009

How should I make an accounting entries for the expenses incurred out of corporate credit card by employees , if those expenses are to be reimbured by the Company.

Have the employees submit an expense report and use this to enter why the expense occurred and to check for actual valid expenses. This essential for tax reasons.

«
»

Horaayy..there are 3 comment(s) for me so far ;)

#1

You would pay the employee the same as if they were any vendor, making an entry to whatever expense they incurred.
References :

ann wrote on September 28, 2009 - 9:09 pm
#2

Have the employees submit an expense report and use this to enter why the expense occurred and to check for actual valid expenses. This essential for tax reasons.
References :

Margaret R wrote on September 28, 2009 - 9:14 pm
#3

Credit the bank accounts
Debit various expenses accounts (depeding on the nature of the exp)
-eg. Overseas travel,
gift to customers,
Advertisement,
telephones charges etc…….OR
ACCRUAL accounts if you have accrued those expenses before hand.
References :

ghost ghost wrote on September 28, 2009 - 10:02 pm
You can leave a response, or trackback from your own site.

Write Your Comment

Comment Guidelines: Basic XHTML is allowed (a href, strong, em, code). All line breaks and paragraphs will be generated automatically.

You should have a name, right? 
Your email address, I promised I won't tell it to anyone. 
If you have a web site or blog, you can type the URL right here. 
This is where you type your comments. 
Remember my information for the next time I visit.