Ask Experts Questions for FREE Help !
    clapsy's Avatar
    clapsy Posts: 1, Reputation: 1
    New Member

    Feb 1, 2010, 01:05 PM
    What is the effect of reimbursed in an expense account
    Reimbursed mary graham's business automobile expense for 1000 kilometers at $1.00 per km
    rehmanvohra's Avatar
    rehmanvohra Posts: 739, Reputation: 27
    Senior Member

    Feb 1, 2010, 11:30 PM

    Reimbursement means the payment of expenses incurred by an employee in accordance with the terms of employment contract.

    This can be treated as a perk to an employee. In this case, perhaps the employee uses his/her own vehicle for business purposes. The employee has to make a claim for the expenses incurred along with supporting evidence. If the payment is within the stipulated limits the company makes the payment.

Not your question? Ask your question View similar questions


Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.

Check out some similar questions!

If supplies expense is a debit? What account gets credited? [ 2 Answers ]

I am having a problem with understanding what account gets credited if the supplies expense is a debit. In the problem, there is a supplies expense of 0, but after adjustments the supplies expense is 3300. There is no supplies payable account; only accounts payable, interest payable, rent...

Triple Net Lease Reimbursed Expense Conflicts [ 3 Answers ]

Triple Net Lease Conflicts -------------------------------------------------------------------------------- Retail businesses in a Triple Net Lease are responsible for reimbursement of expenses for building maintenance and upkeep, which is split based on square footage of leased space with...

View more questions Search