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Accounting for machinery

Atharv Sankliya (1359 Points)

15 June 2022

how thousands of machinery is recorded in books and their depreciation ??

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10 Replies

Rama chary Rachakonda (Master in Accounts & high court Advocate) (8697 Points)
Replied 15 June 2022

A seperate register to be maintained for recording purchase of machinery date wise and put a seperate column for depreciation and net amount in a particular year

1 Like

Eswar Reddy S (CFO- at NHTF) (58275 Points)
Replied 15 June 2022

It will be considered in a particular block of assets under PPE as per AS-10

2 Like

CA Rashmi Gandhi (Chartered Accountant) (86500 Points)
Replied 16 June 2022

You have to maintain a register or record it in some excel. You may also provide separate details in ITR

Also you can arrange machineries block wise

1 Like

Eswar Reddy S (CFO- at NHTF) (58275 Points)
Replied 16 June 2022

If you are maintaining it in software then it's fine. Else excel is sufficient and need not be manual register

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CA Rashmi Gandhi (Chartered Accountant) (86500 Points)
Replied 16 June 2022

Stop repeating your replies, increase your knowledge to reply in one shot @ eshwar Reddy . I think it's easy for Some literate person to understand what is meaning of replying once or single reply or non repeatedly reply. Even after saying on about more than 50 post you are replying again and again like a fool.