journal entry

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Gaurav Gupta (Querist)
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30 May 2011 Sir,

i want to know the accounting treatment for the EMI paid to bank.

Sir My ques is how can i pass the journal entire in the book of the company for the payment of EMI to bank, sir our company has taken a loan from the SIDBI and company paying emi to them, kindly help me sir.

Thanks

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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30 May 2011 EMI Payment need to be accounted as Bank payment entry. but you mean to ask some other or what?

Pankaj Gandhi Jaiswal

Pankaj Gandhi Jaiswal (Expert)
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05 June 2011 Since payment is made so bank definately will be credited and now you have to choose debit transaction that how much will be debited as a loan and how much will be debited as a interest this bifurcation will be made as per bank statement provided to you

Gaurav Gupta

Gaurav Gupta (Querist)
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11 October 2011 Thanks sir.....

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