Insurance claim for Staff
How should I enter the accounting entries when I receive staff’s medical claim from insurance company? However, this claim is not for me, but for my staff and it is first bank in to my company bank account. Therefore, this amount of cash couldnt considered as my company income right?
Cr. Other income
Cr. Sundry debtor
Also, my company pay the full amount to the staff and dont keep any cents. So my company only act as a middleperson in receiving the money.
May I know which of the above entries is correct? Please advice, thank you.