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.
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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.
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