How to pass a depreciation entry to maintain a Gross Block?
Step 1. Create a Ledger "Accumulated Depreciation of relevant Asset (E.g. Accumulated Depreciation of Computer) under
Login to ADDA -->> Admin --->> General Ledger-->>Chart Of Accounts-->>Asset.
Step 2. Create a Depreciation head under General Ledger-->>Chart Of Accounts-->>Expense.
Step 3. Pass a Journal Entry from General Ledger-->>Journal Ledger by Debiting the Depreciation Account and crediting the relevant Accumulated Fixed Asset Account.
What is the Journal Entry for Asset Depreciation?
Reduction in value of tangible fixed assets due to normal usage, wear and tear, new technology or unfavorable market conditions is called Depreciation. Journal entry for depreciation depends on whether the provision for depreciation/accumulated ...
How to pass an Expense provision Entry if we have not received the Bills ?
Step 1. Create a Ledger "Provision For Expense"(E.g. Provision for Electricity) under General Ledger-->>Chart Of Accounts-->>Liabilities. Step 2. Go to General Ledger--->>Journal Entries Step 3. Pass a journal Entries Debit Expense Account and Credit ...
How to pass TDS entry where TDS is not deducted while booking the invoice?
Please follow the below steps to pass TDS entry where TDS is not deducted while booking the invoice: Step 1: Login to ADDA -->> Admin -->> Dashboard >> Bank & Cash -->> Taxes. Step 2: Select the date Click on TDS -->> Click on Enter TDS Payable >> ...
How to pass a journal entry?
Step 1: Go to Admin -->> General Ledger -->> Journal Entries. Step 2: Click on the "Create Journal Entry" Tab. Step 3: Enter the Journal Notes i.e. Narration Step 4: Enter the Journal date and Amount. Step 5: Select the Debit Account And Credit ...
How to pass an entry for the TDS remitted to government?
To Pass an Entry for TDS remitted, Please follow the below steps: Step 1: Go to Admin –>> Bank & Cash –>> Taxes. Step 2: Click on TDS. Step 3: Click on the “Enter TDS Remitted” button at down on the screen. Note: A New window will appear showing the ...