jthoni
Jan 25, 2010, 01:36 AM
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.
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.