Accounts entry in tally

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Assistant
362 Points Posted on 08 July 2021
Dear sir
please suggest account entries
We have paid Rs.20 Lac for purchase of innova four wheeler for busniss purpose for example
invoice value 1881000/-
insurance charges 71000/_
registration certificate 48000
please suggest entries
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On 08 July 2021 at 22:33 Report
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Quick Summary
This discussion covers how to correctly record the purchase of a business vehicle, an Innova, in Tally accounting software. It details the necessary account entries for the vehicle as a fixed asset, prepaid insurance, and registration costs. The advice suggests using either a journal voucher or a purchase voucher, followed by a payment voucher, to accurately reflect the transaction.

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My grammar is 💯 good I
7306 Points Posted on 09 July 2021

Motor car a/c fixed asset

Prepaid insurance a/c current asset 

Registration expense (included in car- fixed asset)

To Bank a/c 

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On 09 July 2021 at 04:49
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My grammar is 💯 good I
7306 Points Posted on 09 July 2021

Forgot to mention that transaction can be done in journal voucher directly. Or use the purchase voucher

Fixed Asset a/c+ registration fee

Sgst 

Prepaid a/c

To Creditor a/c

then make the payments from payments voucher

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On 09 July 2021 at 06:32

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