We have already a one Wagner car.(fixed assets) now we have purchase one Innova-four Wheeler for business purposes.please suggest can we need to create the new ledger for Innova-four Wheeler or pass the entry under old one Wagner.
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Quick Summary
This discussion explores how to handle new vehicle purchases in Tally accounting software. Specifically, it addresses whether to create a separate ledger for a new Innova car when a Wagner car is already recorded, or if entries can be combined. The consensus leans towards creating a new, distinct ledger for the Innova to ensure accurate tracking of assets, depreciation, and potential capital gains or losses in the future.
Defiantly you create new Ledger because which asset are in your firm you don't know after 3 to 4 years any asset you sale can't arrive capital gains and depression because of same block the both asset
Better to have a ledger with the name of motor car and entries of both wagonR and innova should be done within it. If this is not possible then atleast group them under a common group.
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