Debit note regarding to capitalised assets.

[vikram singh]

Dear Expert,

please suggest regarding to debit note raised by us which is related with fixed assets (capitalised/depriciated) and I want to know best accounting treatment regarding it. Is we can raise debit note related to capitalised/ depriciated value or not ? please reply as soon.

Regard

Vikram Singh

AI Summary

Clarification Sought on Accounting Treatment for Debit Note on Capitalized and Depreciated Machinery Assets A user inquired about the appropriate accounting treatment for a debit note related to capitalized and depreciated fixed assets. They described purchasing and capitalizing machinery, then charging depreciation, but needing to issue a debit note to a related party. The user was uncertain about which account to credit since the machinery was already capitalized and depreciated. A consultant requested clarification on the query to provide accurate advice.