Account related query

Accounts 220 views 8 replies
Plz help me I was an unregistered dealer before July 2017 but now I m registered in gst I had machinery amounting 150000 which was purchased in cash earlier
What I do with this machinery in financial year account of financial year 2017-18
Replies (8)
take as capital goods
@ Puneeth.P
What is the entry in tally for this??
Dr. plant and machinery under fixed assets
Cr. party name under sundry creditors
Dr. plant and machinery under fixed assets
Cr. party name under sundry creditors
Bro fir iska payment bhi to show krna hoga sundry creditors ko
Bro fir iska payment bhi to show krna hoga sundry creditors ko
Payment was already done in cash in fy 2016 2017
dr party and cr bank or cash


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