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Former Member

Consumable Asset

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

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2 Answers

  • Posted on Apr 29, 2008 at 06:58 AM

    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

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  • author's profile photo Former Member
    Former Member
    Posted on Apr 29, 2008 at 07:05 AM

    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

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