Where do we record credit purchase of furniture in Tally

A. Purchase

B. Payment

C. Receipt

D. Journal

Correct Answer is :

A. Purchase

Explanation

To account a fixed asset purchase in tally, normally we use journal voucher in earlier versions of tally. But now you can use purchase voucher to enter purchase of fixed assets in latest versions of tally ERP9. To activate fixed asset purchase in purchase voucher, Gateway of Tally > F12 Configure > Voucher Entry Allow expense/fixed assets in purchase vouchers : Yes