Summary of Post
Business purchases fixed assets for its operations like plant and machinery for manufacturing process, Land and building for setting up office and factory.Furniture and fittings,computers and software for office operations. In this lesson we will learn how to account fixed assets in tally erp 9.
FIxed asset accounting in tally erp 9
First thing to enter a fixed asset purchase is creating a fixed asset ledger. You can learn how to create a ledger in tally erp 9 through our previous post.
More reading : How to create a ledger in tally erp 9
Which voucher type is used for entering Fixed asset
It is a bit confusing subject for beginners which voucher type is used for entering a fixed asset purchase.To account a fixed asset purchase in tally erp 9, normally we use journal voucher ,however you can use purchase voucher to enter purchase of fixed assets in latest versions of tally erp 9.
Example of Fixed asset purchased on credit.
When purchasing a fixed asset on credit from a party we debit fixed asset and credit party account.let’s do the following example to enter a fixed asset purchase on credit.
Also Read : How to create sundry creditors ledger
ABC Ltd bought Furniture for Rs 50000 from Woodland furniture on 01-04-2016
Let’s enter this transaction into journal voucher of tally erp 9
Go to Gateway of tally>Accounting Voucher>F7 Journal Voucher
Change date if required by pressing F2 key.
In the journal voucher enter Furniture after debit that is after By and party name after To as shown in the picture below.
Press enter and save, That’s it your are done.
Fixed asset cash purchase entry
To enter cash purchase of Fixed asset,cash purchase you can use cash payment voucher.
To do this go to Gateway Of Tally>Accounting Voucher > F5 Payment
Change date if required,
Enter amount in the amount field. The final voucher will look like this.
Press enter and accept the screen.
Now you can enter fixed asset purchase using purchase voucher in tally erp 9 learn how ?.