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    jthoni's Avatar
    jthoni Posts: 2, Reputation: 1
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    #1

    Jan 25, 2010, 01:36 AM
    Work in progress accounting
    I would like to know the accounting procedure of work in progress in the tally accounting programme.

    Normally we debit the work in progress under asset a/c head, where will be credit? Under which account head? Whether it is under purchase a/c or sales a/c or Income a/c ?

    And what is the transaction for the next period? Only reversing the transaction or not?

    Expecting detailed answer.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Jan 26, 2010, 06:46 PM

    Please do not double-post.
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