Wrong accounting of Fixed Asset
This query is : Resolved
25 October 2009
Hi,
While accounting software purchase invoice , i have wrongly use the fixed asset code software acquired instead of Software.
Now i want to reclass this entry with proper effect of depreciation in both the a/cs. Please advcie how to do .
While accounting software purchase invoice , i have wrongly use the fixed asset code software acquired instead of Software.
Now i want to reclass this entry with proper effect of depreciation in both the a/cs. Please advcie how to do .
CA. B.SRINIVASULU
(Expert)
25 October 2009
You can reclassify.
You have to calculate the correct depreciation after reclassification and difference excess or shortage to be adjusted during the year with a note for the same.
You have to calculate the correct depreciation after reclassification and difference excess or shortage to be adjusted during the year with a note for the same.
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