Dear Members,
I maintain our Society Accounts, our elevator control panel is dead and needs replacement. We have purchased a new one from the Elevator Company. Apart from the monthly maintenance charges we have decided to collect the funds seperately from all tenants for the new Control Panel. I want to maintain a seperate ledger account for the money collected in order to keep track of the amounts received. This ledger should nullify in the Balance Sheet after the payments are received because this amount is specially collected for covering the cost of the new Control Panel. The value of the Control Panel will be captalized. Can you please advise how to pass the entries. Thank you
CAclubindia
