Buying an Asset

Recording Asset Purchase

When you buy a Fixed Asset, like machinery, furniture etc you incur ancillary expenses on it life transport, insurance, registration etc. All the expenses incurred till the point such asset is put to use is capitalised and added to the cost of the asset. This cost needs to be recorded in the Accounting Software.

Let Me Now Show You How This Is Done:

1.Go to Journal under accountant tab
2.Click add journal Button

3.Add a Description for your reference.
4.Select the Date.
5.Fill the Reference Number and click Here is the Proof.
6.Now select fixed asset (Computer) and add amount under debit column.
7.Select bank or cash and add amount under credit column.
8.Click save.