Purchase entry
This query is : Resolved
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
(Expert)
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
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
(Expert)
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.
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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