Frndz..help me to understand accounting treatment in tally ERP9 of "Freight Charges on Purchase of Machinery" ?
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Freight on machinery purchase
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Hello,
If the freight is considered part of the cost of an asset it is recorded as part of the value of the asset.
All expenses incurred till the time the asset becomes operational should be considered as the cost of the asset. Thus, Freight Charges on Purchase of Machinery will be added to cost of asset.
Read more at: /forum/freight-on-machinery-purchase-345648.asp
Freight Dr to cash/creditors
And
Machinery Dr to freight.
Provided only if the cost of freight is incurred for purchase of machinery till to make machinery put to use.
Freight Dr to cash/creditors
And
Machinery Dr to freight.
Provided only if the cost of freight is incurred for purchase of machinery till to make machinery put to use.
It's help me. Thanx
Add To the cost of machine
Exemption Must be consider for calculating GTI but deduction is from GTI
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