Type search words and press enter

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.