I AM USING TALY.ERP9 AND I WAN KNOW HOW CAN I ENTER THE PURCHASE OF FIXED ASSETS AND WHAT WILL BE THE PROCEDURE TO CLAIM IT'S INPUT CREDIT?
Ignore which accounting software you are using.
Accounting concept never changes.
Input on fixed assets is available similar to inputs on purchase of materials.
You need to Debit Fixed Asset and input tax ledgers and credit party or payment ledger.
Sign up to discuss taxation, accounting and finance topics with experts from all over India.Join Discussion