Transaction treatment .....
This query is : Resolved
10 February 2014
we purchases a machinery on credit Base how will treat this as in P&L A/C and Balance sheet.......?,
(1) would I treats as nominal A/c and by transferring to P&L A/C......?
(2) commonly in Tally we are booked these transaction in Journal Voucher so Journal Voucher booked only Expenses how can i understand this transaction please advise me .............?
(1) would I treats as nominal A/c and by transferring to P&L A/C......?
(2) commonly in Tally we are booked these transaction in Journal Voucher so Journal Voucher booked only Expenses how can i understand this transaction please advise me .............?
11 February 2014
well the machinery is to be included in the assets..depreciation will be charged to p &l a/c. please note that asset is never a nominal account. it is a real account.
14 February 2014
1.it is a real account
2.Journal voucher is not for booking exp because fr exp there is payment voucher
Journal voucher is for booking entries in those transaction where there is no cash or bank involved eg depreciation.
2.Journal voucher is not for booking exp because fr exp there is payment voucher
Journal voucher is for booking entries in those transaction where there is no cash or bank involved eg depreciation.
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