DEAR SIR/MADAM,
WE ENTRY IN TALLY FOR FIXED ASSETS WITH INVENTORY, A/C HEAD, FIXED ASSETS(+) SHOWING IN ASSETS SIDE, BUT CLOSING STOCK SHOWING IN MINUS IN LIABILITY SIDE, PLEASE ANYBODY EXPLAIN IT.
6 Replies
chandra
(student)
(528 Points)
Replied 28 July 2015
Dear Ganesh
Are you debiting Fixed Assets and crediting Inventory (Current Assets), for purchase of fixed assets.
Get your basics right
Tarun
(AM)
(216 Points)
Replied 28 July 2015
U r wrong I suppose. Cl stock is not -ve. It comes in Assets and have a Dr. Bal
amit aggarwal
(Tax Professional)
(80 Points)
Replied 28 July 2015
Hi ganesh,
If you are transferring your stock to fixed assets make sure your transfer should b at the same value at which you were carrying stock in your books. Any deviation will definitely account for inventory as a credit balance. Correct your basics first.
GANESH KUMAR KASHYAP
(Private Job)
(206 Points)
Replied 30 July 2015
Dear SIR/MADAM,
PURCHASE FOR FIXED ASSETS IN TALLY,
DR. FIXED ASSETS A/C
TO PARTY A/C
& FOR PAYMENT
DR. PATY A/C
TO CASH A/C
FOR FIXED ASSETS LEDGER ( SET INVENTORY VALUE ARE EFFECTED FOR YES)
SO WHY CLOSING STOCK SHOWING IN LIABILITY SIDE.
sweety
(Faculty)
(21 Points)
Replied 30 July 2015
Dear Ganesh,
Check out ledger creation. It's possible it's wrongly created.
GANESH KUMAR KASHYAP
(Private Job)
(206 Points)
Replied 30 July 2015
DEAR SIR/MADAM,
HOW TO CREATE A LEDGER FIXED ASSETS A/C. IF I WANT TO MAINTAIN STOCK MANAGEMENT WITH FIXED ASSETS.
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