Captial work in progress treatment
This query is : Resolved
25 May 2009
hi experts
one of my client contructing builnding, He paid around 8 laksh to contractor for contruction it wll be completing on 28.7.2009. My question is
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
hi experts
one of my client contructing builnding, He paid around 8 laksh to contractor for contruction it wll be completing on 28.7.2009. My question is
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
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
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
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