So, how does petty cash bookkeeping work? Disbursements, Reimbursement (a) Immediately upon the issuance of each Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from Agent a participation in such Letter of Credit and each drawing thereunder in an amount equal to such Lenders Commitment Percentage of the Maximum Face Amount of such Letter of Credit and the amount of such drawing, respectively. The DIR administrative fee specified in Section 5 below is not applicable to travel expense reimbursement. Note: Enter debits before credits. Checking. Likewise, if you have a pet who's a social media star, you may be able to write off their care. Eight days after the purchase, this company paid 1/3 of the amount due. The bank corrects an error from previous month by adding $75 to the depositor account. Expenses to be borne by the Funds, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsels review of a Funds registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the Funds; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the Funds; costs incidental to the preparation, printing and distribution of the Funds registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors and officers liability insurance; and cost of independent pricing services used in computing each Funds net asset value. With Happay, you can easily and quickly reimburse petty cash without any hassle. Include checking accounts. The company makes journal entry by debiting expenses and crediting petty cash. The journal entry to record full replenishment may require an additional debit (for shortages) or credit (for overages) to Cash Short (Over). You must document each expense if you want to deduct it from your business taxes. You can learn more about the standards we follow in producing accurate, unbiased content in our.
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