Mobile & Power bank- Entry in tally

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The discussion explained that mobile phones may be treated as fixed assets if their value is significant. Otherwise, mobile phones and power banks can be charged to the Profit and Loss account under office or computer maintenance expenses.

Clement Fernandes

Clement Fernandes (Querist)
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09 June 2021 Dear Respected Members,

Can we consider the purchase of Mobile and power bank as a fixed asset? if not under which head in tally? especially power bank?

CMA Poornima Madhava

CMA Poornima Madhava (Expert)
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09 June 2021 Generally, if the cost is trivial, such transactions are directly debited to P&L account. I think mobile phone can be considered as a fixed asset (if the value is significant), if not, both can be debited to computer/office maintenance (as appropriate).

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