Type search words and press enter
"TallyPrime Release 2.0.1 brings in the bottom bar, making the shortcut keys easily accessible to you. Click here to download!"

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.