I have a question regarding contribution to meals from customers/potential clients.
Every year my Director would invite a few founders of companies or industry experts to an evening of dinner and drinks gathering at a restaurant in which they would discuss potential businesses and share eperiences.
We ask that each individual contribute £35 to the event and my company would cover the rest of the bill at the end of the evening.
I was wondering how I would account for the £35 contribution made? can this offset the entertaining expense? Would this have any negative effect if I were to reduce the entertaining expense account?
Thank you in advance