Recording transaction under correct head.
This query is : Resolved
03 September 2019
Our company have purchased pvc pipes to cut and fit in machines to run the machines.
How to record this transaction in books and under which head it is shown in books as fixed assets or current assets or spare parts.
How to record this transaction in books and under which head it is shown in books as fixed assets or current assets or spare parts.
Amol S Joglekar
(Expert)
03 September 2019
if it is for strengthening the machinery, you can capitalise the same
04 September 2019
It is not for strengthen the machines it is for putting chemical to machine which it will process and machine starts it's work.
Amol S Joglekar
(Expert)
04 September 2019
then let it go to repairs & maintenance
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