You will need to record the purchase of capital goods in the course of your business. These purchases may be taxable or exempt. You can record the transaction for purchase of capital goods - taxable or exempt - in Tally.ERP 9.
On this page:
Purchase of capital goods - taxable
Purchase of capital goods - exempt
To record purchase of capital goods attracting VAT
1. Go to Gateway of Tally > Accounting Vouchers > F9: Purchase.
2. Press Ctrl+V to display the voucher mode.
3. Click F12: Configure and enable the relevant option to view ledger grouped under Fixed Assets.
To select capital goods ledger
1. Click F12: Configure.
2. Click F12: Advanced.
3. Set the option Allow expenses/fixed assets in purchase vouchers? to Yes.
4. Press Ctrl+A to accept the Voucher Configuration.
5. Press Ctrl+A to return to the Accounting Voucher Creation screen.
4. Enter Supplier Invoice No. and Date in the purchase voucher.
5. Credit the party ledger, and enter the amount.
6. Debit the capital goods ledger.
Ensure that the capital goods ledger is,
● Grouped under Fixed Assets.
● Predefined with Purchase Taxable - Capital Goods (as the Nature of transaction).
7. Debit the VAT ledger. Enter the VAT Details as shown below:
8. Debit the surcharge ledger. Enter the information in the VAT Details screen.
9. Enable the option Provide VAT Details?, and enter the additional purchase details.
10. Press Enter to save. The purchase voucher appears as shown below:
11. Press Enter to save.
To record purchase of capital goods which are exempt from VAT
1. Go to Gateway of Tally > Accounting Vouchers > F9: Purchase.
2. Press Ctrl+V to display the voucher mode.
3. Click F12: Configure and enable the relevant option to view ledger grouped under Fixed Assets.
To select capital goods ledger
1. Click F12: Configure.
2. Click F12: Advanced.
3. Set the option Allow expenses/fixed assets in purchase vouchers? to Yes.
4. Press Ctrl+A to accept the Voucher Configuration.
5. Press Ctrl+A to return to the Accounting Voucher Creation screen.
4. Enter Supplier Invoice No. and Date in the purchase voucher.
5. Credit the party ledger, and enter the amount.
6. Debit the capital goods ledger.
Ensure that the capital goods ledger is,
● Grouped under Fixed Assets.
● Predefined with Purchase Taxable - Capital Goods (as the Nature of transaction).
7. Enable the option Provide VAT Details?, and enter the additional purchase details.
The purchase voucher appears as shown below:
8. Press Enter to save.
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