bus purchased from x party amount paid for the same and sale deed is ready but name transfer not yet done, now my doubt is purchase or repair Bill's coming in the name original owner name only, here how to book purchase entry and fixed asset entry
gaddala ramesh (166 Points)
16 April 2025bus purchased from x party amount paid for the same and sale deed is ready but name transfer not yet done, now my doubt is purchase or repair Bill's coming in the name original owner name only, here how to book purchase entry and fixed asset entry
Rama chary Rachakonda
(Master in Accounts & high court Advocate email ID:ramachary64@gmail.com voice no:9989324294)
(7320 Points)
Replied 17 April 2025
Accounting for Bus Purchase To accurately record the purchase of the bus in your books: -
*Request name change*: Ask the vendor to update the billing name to reflect the new ownership. -
*Follow up*: Follow up with the relevant authorities to complete the name transfer process.
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