Difference between purchase Assets and expenses entrys?

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What is Purchase ?
Purchase is a word that we used for Buy something Products or servicr. In accounting purchases is the amount of goods a company bought throughout this year. It also refers to information as to the kind, quality, quantity, and cost of goods bought that should be maintained. They are added to inventory. Purchases are offset by PurchaseDiscounts and Purchase Returns and Allowances.
Example : Mr. Ram Brought a Box of  Pen from Maa Tara stationary for ₹ 250.

 In Accounting we used this Sentences  like this :  Mr. Ram Purchase a Box of  Pen from Maa Tara stationary for ₹ 250.

Purchase Entry Example in Tally  Accounts :-
Ledgers 
1. Purchase A/C Under the Purchase Accounts
2. All of the Salers A/C will under the Sundry Creditors   
 Like_ Ram Purchase from mr. X .  so hear Mr. X is Sundry Creditors.

1. Credit Purchase Entrys

     Mr. Ram Purchase Goods from Mr. Rode. On credit. Rs.5000

Purchase Voucher ( F9)

Purchase A/C.    Dr.       ₹5000
     To Mr. Rode A/C.       ₹5000

     Mr. Ram Purchase Goods from Mr. Rode.
     Rs.5000

Purchase Voucher (F9)

Purchase A/C.      Dr.          ₹5000
   To Mr. Rode A/C.              ₹5000

In hear, you can see I didn't mention the Credit word . so when you see like this words on Accounts this will be always made in credit entry in purchase.

2. Cash purchase Entry.

Mr. Dom Purchase a goods in cash ₹ 5000

Purchase Voucher (F9)
   
Purchase A/C.    Dr.    ₹ 5000
   To Cash A/C.              ₹ 5000

in hear all Goods purchase entry will show on Trading A/ Debit site and also show on Balance sheet liability site as Sundry Creditor group. and cash purchase show on cash A/c on balance sheet Assets site.

Fixed Asset entrys:

Ledger: Fixed assets always under the Fixed assets .like furniture A/c

Mr.X purchase furniture from mr. B in cash ₹ 6000

Adjustment Voucher ( F7)

Furniture A/ C     Dr.   ₹ 6000
     To Mr. B.    A/C.            ₹6000

When you purchase Furniture in credit or cash you made this entry like this.
 When you Made the payment on Furniture sales them you made this entry.

Payment voucher (F5)

Mr. B   A/C.        Dr.  ₹6000
    To.  Cash A/C.        ₹6000

After you made all of the entrys then Furniture A/C show on Assets site on Balance sheet and sudry Creditor ( Mr. B)  Will show on Liability site.

Thank you for Reading.


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