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Captial work in progress

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(Querist)
25 May 2009 hi experts
How to entry in capital work in progress in tally. Under which grounp i have to create and after completing contruction of building How to capitalised the enty, pLS Provide me Journal Entries in details, thanks in advane
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Deepak Agrawal

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Deepak Agrawal (Expert)
25 May 2009 Capital WIP will be created under fixed Assets in Tally

Entry for CWIP when it is purchased :
CWIP A/c... Dr
To Vendor / Bank A/c

When it is capitalised:

Fixed Asset A/c... Dr
To CWIP A/c
Profile Image

Deepak Agrawal

Profile Image

Deepak Agrawal (Expert)
25 May 2009 Capital WIP will be created under fixed Assets in Tally

Entry for CWIP when it is purchased :
CWIP A/c... Dr
To Vendor / Bank A/c

When it is capitalised:

Fixed Asset A/c... Dr
To CWIP A/c

Hope it answers your query




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