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Purchase of Capital Goods (Karnataka)

Create a purchase invoice to record purchase of capital goods.

To record purchase of capital goods

1.    Go to Gateway of Tally > Accounting Vouchers > F9: Purchase.

2.    Press Ctrl+V to switch to voucher mode.

3.    Click F12: Configure.

4.    Enter Supplier Invoice No. and Date.

5.    Credit the party ledger and enter the amount.

6.    Debit the fixed assets ledger (grouped under Fixed Assets and with Purchase Taxable - Capital Goods selected as nature of transaction), and enter the assessable value.

7.    Debit current assets ledger created under Current Assets.

o     Enter Commodity Name, Commodity Code, Assessable Value, VAT Rate % and VAT Amount Claimable in the Input Credit Details screen.

o     Press Enter to return to the voucher screen.

8.    Set the option Provide VAT Details? to Yes/No, as required.

The purchase invoice appears as shown below:

9.    Press Enter to save.