Respected Seniors please help me, I purchase Plant & Machinery on C Form how to pass entries in books of accounts, as my openion first I make purchase voucher, where Purchase C form Dr. and Supplier is Cr. and then i pass one entry through journal where Plant & Machinery will be Dr. and Purchase C Form will be Cr. , please confirm me whether I am right or wrong
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Entry for Plant & machinery
Replies (3)
Pl arrange to make reports from softwoare with one entry.
Plant and Machinery a/c dr
to
Supplier's a/c
I do not think its right to pass the entry for purchase of Plant & Machinery through Purchase Voucher. I understand you want to record it for your Sales tax purpose but this not the correct way and it ill ultimately cancel the ledger "Purchase C Form" so there won't be any benefit. So
Plant & Machinery a/c Dr
To Suppliers a/c
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