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Entries of education loan

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(Querist)
17 June 2014 i am borrowing education loan from bank

what are the accounting entries will pass in tally



regards

Ashutosh
cs - excutive student
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
17 June 2014
If you recieved the money

Bank A/c

To Education Loan A/c

If Bank directly paid it to the institution

Fees Paid A/c

To education loan A/c
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ashutosh guru

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ashutosh guru (Querist)
17 June 2014 Sir fees is paid is tretated as asset



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ashutosh guru

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ashutosh guru (Querist)
17 June 2014 Sir fees is paid is tretated as asset
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
17 June 2014 no friend..it is an expense..
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
17 June 2014 fees is paid so how come payment is an asset.....
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ashutosh guru

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ashutosh guru (Querist)
18 June 2014 Dear Sir institute comes under which catagory

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