Property accounting

riddhi (student) (746 Points)

25 May 2016

How to account for property purchased? Stamp duty paid , registration charges , advance paid

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CA RAHUL RAMCHANDAN (Chartered Accountant) (235 Points)
Replied 25 May 2016

create expenses account for different types of accounts at the end of the year transfer all expenses to the Propert under foxed assets

riddhi (student) (746 Points)
Replied 25 May 2016

but how will the account get tallied? the creditors account

riddhi (student) (746 Points)
Replied 25 May 2016

stamp duty and registration charges are over and above the value of the property so

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