I'm using tally for personal finance management. Now, I'm starting to a build new house and would like to use tally for grouping all expenses related to house construction seperately, So, please tell me which ledgers should be created and in which ledger groups.
I want to track the following category of expenses.
1) Labor
2) Material
3) Transportation
4) Electricity
5) Shops from which I purchase materials on credit.
6) Housing loan
hey vinu,
Creat a seprate group named "Construction Exp - Own House" under the head "direct expenses". then open the required ledgers as you have mentioned above under this group. This method is for if you want to show the exp in p&l a/c
If you want to show the construction expenses in your personal account then change the group head ie. insted of direct expenses put it under capital account.
If you have any other questions pls let me know.
Thank & regards
Hi Ramanathan,
Even i have the same query as Vinu had, as we are constructing Madrasa/Masjid and we have the same expenses(cost of construction). can u pls tell me where to treat this under tally.
1.Direct Expenses
2.Capital
3.Fixed assets
CAclubindia
