Car loan entry
This query is : Resolved
Prakash kumar
(Querist)
14 April 2015
dear sir , we purchase a car(which is our fixed assets) and made first payment by bank and paying rest amount in EMI , i want to know how to make entry in tally? and Is EMI will be under indirect exps and first cheque payment comes under which group ?
please answer me in detail.
Rupesh Jain
(Expert)
14 April 2015
when buy
car a/c
to finance co.
to bank a/c
EMI PAYMENT
finance co. a/c DR.
intt on loan a/c DR.
to bank A/C
car a/c
to finance co.
to bank a/c
EMI PAYMENT
finance co. a/c DR.
intt on loan a/c DR.
to bank A/C
Rupesh Jain
(Expert)
14 April 2015
when buy
car a/c
to finance co.
to bank a/c
EMI PAYMENT
finance co. a/c DR.
intt on loan a/c DR.
to bank A/C
car a/c
to finance co.
to bank a/c
EMI PAYMENT
finance co. a/c DR.
intt on loan a/c DR.
to bank A/C
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