Accounting entry
This query is : Resolved
20 December 2016
Dear Experts,
Our company has purchased 2 swipe (pos machine). What would be accounting entry for this. swipe machine comes under fixed assest or not.
Please guide me .
Our company has purchased 2 swipe (pos machine). What would be accounting entry for this. swipe machine comes under fixed assest or not.
Please guide me .
20 December 2016
U must show it under Fixed Assets, under plant and machinery block. And can claim depreciation @15% as per IT Act.
Swipe machine (Fixed assets)
To bank
Swipe machine (Fixed assets)
To bank
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20 December 2016
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