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How do I pass entries towards advance paid to program ependiture. ex: Rs.20000 advance paid to Program officer. and he come back with program expenses venue Rs.1000, food expenses Rs.10000 and travel Rs.4000 and accommodation Rs.6000. Kindly give me the answer that how do I pass the entries and how should I adjust advance.
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Answer Posted / vishalgoel88@yahoo.com
At the time of Advance
Employee advance a/c dr...... 20000
TO Cash a/c..... 20000
To record the expenses
Venue expenses a/c dr... 1000
Food expenses a/c dr...... 10000
Travelling expenses a/c dr.... 4000
Accommodation expenses a/c dr.... 6000
To Employee advance 20000
To Cash 1000
(Actual expenses were more than the advance, the employer would have to reimburse the employee.)
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