Capital expenses and revenue expenses in one invoice.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 June 2015
"I have a Invoice, I which our company purchased some Computer Equipment of
both Capital in nature and Revenue in nature.
The Invoice is with VAT & discount.
Should I will first bifurcate the revenue and capital expenses including VAT after
that I will account the same ?
How i will treat the total amount of discount on the Invoice ?
Please help.
"
both Capital in nature and Revenue in nature.
The Invoice is with VAT & discount.
Should I will first bifurcate the revenue and capital expenses including VAT after
that I will account the same ?
How i will treat the total amount of discount on the Invoice ?
Please help.
"
04 June 2015
Yes you have to bifurcate the invoice including VAT and discount(proportionately) and account it.
04 June 2015
you can take discount on specific if mention otherwise discount and vat on proportionate.
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