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Purchase entry

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Querist : Anonymous

Querist : Anonymous (Querist)

20 February 2010 If we purchase Plant machinary at 20000 rupees. then how this enter in Purchase & payment voucher? for plant machinary which group is created ?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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20 February 2010
Purchase entry
Debit : Plant & Machinery A/c
Credit: Vendor A/c

Payment Entry

Debit: Vendor A/c
Credit: Cash/Bank A/c

Plant & Machinery can be grouped under Fixed assets

Rahul Gupta

Rahul Gupta (Expert)
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21 February 2010 Agreed with Mr. Ramesh.
But a little modification can be helpful , if we enter the purchase of P&M through journal voucher bcoz, then purchase entries will represent the purchase of trading goods only.

The entry is ok.

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