JORDAN (ACCOUNTANT (GENERAL)) (24 Points)
12 June 2023If I start new restaurant before start I spent money on pre opening like tiles, painting, plumbing, electric wiring, mason , repair and Maintenance and renovation.
Where it will enter pre opening expenses in tally?
Is it capital expenditures?
It will enter in asset side.
Please suggest me.
B Durga Prasad
(Student)
(175 Points)
Replied 13 June 2023
In Tally, you can enter pre-opening expenses for your restaurant as capital expenditures. Create separate ledger accounts for each type of expense under the fixed assets category. Record the transactions in the appropriate voucher type (e.g., Payment Voucher, Journal Voucher) and allocate expenses to specific assets if needed.
Let's say you have incurred the following pre-opening expenses for your restaurant:
To record these expenses in Tally, you can create ledger accounts for each expense under the fixed assets category, such as "Pre-opening Expenses - Tiles," "Pre-opening Expenses - Painting," and so on.
Next, you can enter the transactions using the appropriate voucher type. For example, if you made a payment for plumbing expenses, you can use the Payment Voucher to record the transaction. Enter the amount of Rs. 8,000 under the "Pre-opening Expenses - Plumbing" ledger account.
Repeat this process for each expense, allocating them to the respective ledger accounts. These expenses will be treated as capital expenditures and will appear on the asset side of your financial statements.
For more detailed information, visit Swipe Blogs.
sabyasachi mukherjee
(27330 Points)
Replied 13 June 2023
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