Sale of Machinery - Entry in Tally

Our firm has sold some machinery worth 5 lacs. How these entries will be recorded in Tally.

With journal voucher we can pass the entry :-

Buyer A/c Dr.

  To Machinery A/c

 

Then from receipt voucher we can make the following entry :-

Bank A/c Dr.

  To Buyer A/c

 

But how to pass sale of machinery entry through sales voucher, so that sales can be affected in tally and vat could be charged. Pls guide.

Thanks in Advance
 

Replies (4)

Pass Journal Entry As;

Buyer's A/c  Dr.

            To Machinery A/c

            To VAT Output A/c

because for entry through sales voucher u need stock in hand for sale, but ur machinery is not ur inventory. Second negative impact through sales voucher is-it will apper in ur trading a/c, that is wrong.

if in ur vat registration no, it is mentioned that u can sale or purchase machinery , only then u can charge vat on machinery, otherwise the machinery is ur fixed asset, and u hve to do entry in journal voucher , fixed asset cr to xyz dr

MD CAR SALE IN COMPANY WHICH HEAD ENTRED IN TALLY

 

If we sold Machinery :

Buyers Dr.

To GST

To Machinery 

But in which ledger does machinery recorded if we Sale some machinery, Bcoz machinery is our Fixed assest and that can be Debit only if we purchase some machinery, so it could not be possible that we put the sale entry in same machinery ledger????????

Kindly tell us the proper machinery ledger in which we paas sale of machinery entry in tally without msimatch entry in GSTR3B and shown in GSTR1 as per Invoice.

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