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.
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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