What journal entries will pass in case of purchasing of Fixed Assets on instalments

Q:- I'm working with Tally 9 software. i brought one car by financing company. but i dont no how to make transaction in tally. can you help me in this regard;

Car amunt : BD. 9588.000
Down Payment :
BD.2000Istalment amount :
BD.164*59 times and 188.400*1 time
Total Instalment amount : 9864.400
Period : 5 Year can you explain to me the transaction
Answer : First of thanks for asking first question from Bahrain. I think you live there because of you have bought in BD( Bharain dinar ) . Now understand records of these transaction in tally 9 .
When you buy car , you have to create the ledger accounts for this Company gateway >> ledger creation >> multi ledger creation >>

1. Car Account under fixed asset

2. Bank account under bank account

3. Interest account

4. Name of party account ( Creditor ) under loan ( liabilities ) Accepts all one by one and then return to gateway of tally and pass the voucher entries in Account voucher When you buy the Car on credit This entry will be in Journal voucher ( F7 function key )

Car account debit BD. 9588.000
Name of party from where you buy Credit BD. 9588.000
2nd when you paid down payment ( It means pay at the time of buy under hire purchase system ) This entry will in payment voucher
Name of party from where you buy Account Debit : BD.2000
Bank Account Credit: BD.2000

If you voucher in single mode then First write bank account in account and then write the name of party and then accept it. It means same above entry of payment will be passed without tension of debit and credit.

3rd When you pay other installment Then you will follow same second entry in payment voucher till the all payment is not completed by you to the party from where you have bought from CAR. Write only the amount of payment it may be BD.164*59 times and 188.400*1 time



access account accountant Accounting accounting definitions accounting ebook Accounting education accounting procedure accounting process outsourcing Accounting Software advance advertising africa Amalgamation amendments announcements Annuity assets audit auditing Australia B.Com. balance sheet bank Bank reconciliation banking basic accounting BBA benefits best bill black money blog bloggers book keeping bookkeeping Branch Accounting - full tutorial budget Budget variance business businessman CA calculator canada capital capital budgeting career cash cash book cash flow statement Chiense children china class coaching coins college commerce commerce students company computer computer accounting conference Contact vinod kumar corporate accounting cost cost accounting cost center cost centre CPA credit credit card cs currency data Debit and credit debit cards debt debtor degree depletion depreciation documents dollar domain Downloads Dubai e-accounting earning education Education Loans email employee EPF ERP euromoney examination excel excise duty expenses facebook factor of loan fans feature fifo FII fiji finacle finance Financial financial accounting fire insurance flickr flow forensic forex formula france fraud free fun function fund GAAP GDP gdr germany gold goodwill goodwill accounting google google apps google apps google base google buzz google calendar Google docs google finance google fusion tables google talk govt. guide health Hindi Hindi Language history holding company How to treat FBT in Tally 9 HRA ICAI ICAWI ICICI Bank IFRS income income statement Income Tax India indian railway Indonesia inflation inflation accounting infographics information inspiration insurance insurance accounting interest international Internet Introduction of Tally 9 inventory investment invoice IT Japan Job costing journal entries keyboard kindle kuwait laptop law LBT learning lease lecture ledger leducation Leverage Analysis liabilities lifo linkedin loan logical point loss loss of profit M.Com. m.phil malaysia management accounting manual accounting manufacturing account market marketing mastercard material MBA MCA media migration mobile money ms word ms. excel multi currency in tally 9 Multicurrency Accounting mutual fund national security new and sacrifice ratio new york times new zealand news NGO nonprofit-accounting North Georgia Mountains NPV NSE odbc office oman online application online accounting otcei pakistan parents pay pal pdf pie chart pie chart of income pnb podcast ppf presentation price privacy policy prize money prof. vinod kumar profit profit and loss account project management provision purchase puzzles quickbooks Quote quotes quotes of svtuition rating agency ratio analysis RBI readers real estate rectification of errors remote control reports reserves responsibility accounting retirement revenue Revenue reserves review risk rupees salary sale saudi arabia saving sbi scholarship school SEBI security service tax share share trading Shares shri lanka singapore sms social accounting society solution South Africa stock stock exchange structure student students study subsidiary company svtuition swiss bank tally tally 9 Tally 7.2 Tally 9 Tally.ERP 9 tanzania tax Tax Accounting TDS teacher teaching technology test testimonial testimonials thailand tips trading trading on equity transaction trend trial balance tuition twitter UAE UGC - NET Commerce UK United Arab Emirates university usa valuation VAT Video Voucher and vouching wikipedia working capital youtube
Accounting Education: What journal entries will pass in case of purchasing of Fixed Assets on instalments
What journal entries will pass in case of purchasing of Fixed Assets on instalments
Accounting Education
Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock