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Fixed assets

This query is : Resolved 
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(Querist)
28 February 2012 Dear Sir,

Pls suggest, How to pass entries for purchase of Machinery, Electrical Instalation & how to capitalised the same. Urgent.

Tnks.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
28 February 2012 Create one Machinery A/c. Ledger and debit purchase of machinery & installation both that ledger only
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CA. RAVIKUMAR

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CA. RAVIKUMAR (Expert)
28 February 2012 Create the Plant and machinery A/c under Fixed assets group. then Debit the Cost of machinery and installation charges and credit to the Party ledger.

If you require you can also have by individual Machinery name instead of General Plant and machinery A/c
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