[sap-acct] Excise refund received after capitalising asset

Posted by manishsanghvi
on Jul 9 at 10:21 AM
Dear All,

During the month of May -2011, we capitalsied asset called Ambulance
for Rs. 5,50,000/- (capitlisation date 31.March, 2011)

After two months we have received Excise refund of Rs. 55,000, which
was paid while buying Ambulance.

This Excise refund was credited to vendor account.

Now I have to Debit vendor and credit Asset account.

I have to reduce cost of Asset

I have not posted Depreciation on Books from April-11 onwards.
How to Proceed.... Please help.

--
best regards,
Manish Mahendra Sanghvi
98208 83148
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