Consumable Asset

[Former Member]

Hi Gurus,

Assets like Water Purifier, AC, Exhaust fans are consumed daily.What will be the accounting entries for these assets in GR and in Invoice?????

Thanks & Regards

Pranaya

[Former Member]

hi ,

at the time of GR the accounts entries are

asset a/c dr to (this dep on the g/l account which we take)

gr/ir rec a/c

at the time of invoice

vendor a/c dr to

gr/ir rec

Edited by: MANI ROOPA SD/MM on Apr 29, 2008 9:07 AM

[former_member335885]

Hi,

AC, waterpurifier, exhaust is not consumed daily, but electricity , water will be consumed daily,

This is taken care by MM consultant in pipeline process.

For asset details like Depreciation of Asset etc FI consultant would be better to address you

Thanks & Regards,

Kiran