DEAR SIR/MADAM,
WE ENTRY IN TALLY FOR FIXED ASSETS WITH INVENTORY, A/C HEAD, FIXED ASSETS(+) SHOWING IN ASSETS SIDE, BUT CLOSING STOCK SHOWING IN MINUS IN LIABILITY SIDE, PLEASE ANYBODY EXPLAIN IT.
Menu
Fixed assets
Replies (6)
Dear Ganesh
Are you debiting Fixed Assets and crediting Inventory (Current Assets), for purchase of fixed assets.
Get your basics right
U r wrong I suppose. Cl stock is not -ve. It comes in Assets and have a Dr. Bal
Hi ganesh,
If you are transferring your stock to fixed assets make sure your transfer should b at the same value at which you were carrying stock in your books. Any deviation will definitely account for inventory as a credit balance. Correct your basics first.
Dear SIR/MADAM,
PURCHASE FOR FIXED ASSETS IN TALLY,
DR. FIXED ASSETS A/C
TO PARTY A/C
& FOR PAYMENT
DR. PATY A/C
TO CASH A/C
FOR FIXED ASSETS LEDGER ( SET INVENTORY VALUE ARE EFFECTED FOR YES)
SO WHY CLOSING STOCK SHOWING IN LIABILITY SIDE.
Dear Ganesh,
Check out ledger creation. It's possible it's wrongly created.
DEAR SIR/MADAM,
HOW TO CREATE A LEDGER FIXED ASSETS A/C. IF I WANT TO MAINTAIN STOCK MANAGEMENT WITH FIXED ASSETS.
Recent Threads
- Turnover limit for composition dealer in gst
- My client purchases Rs. 3 crores and his turnover
- Regarding CA foundation Exemption (Direct Entry Sc
- CFSS Scheme
- Transfer of ITC from individual to LLP
- Query of Goodwill
- Remuneration to Partners
- Request For Dhirajlal Rambhia
- Tds deduction queery
- Check ITR1 on income tax Form ITR1 Instead of 1 ho
Related Threads
CAclubindia
