How to prepare depriciation entry in tally?
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Journal Entry for Depreciation in Tally
Before we create journal entry for depreciation, we need to know the accounting entry for it.
Let’s take an example of an asset called Furniture. We already have Furniture worthRs.10,000 and we want to applydepreciation of Rs.1,000.
The accounting entry will be:
Depreciation Account Debit by Rs.1,000 and Furniture AccountCredit by Rs.1,000.
The entry for depreciation as I have shown in the above example will be as shown in the picture above
Before we create journal entry for depreciation, we need to know the accounting entry for it.
Let’s take an example of an asset called Furniture. We already have Furniture worthRs.10,000 and we want to applydepreciation of Rs.1,000.
The accounting entry will be:
Depreciation Account Debit by Rs.1,000 and Furniture AccountCredit by Rs.1,000.
The entry for depreciation as I have shown in the above example will be as shown in the picture above
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