Tally groups 2

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Student (Querist)
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18 August 2010 Dear Expert,
Under which group should the below ledgers be opened in Tally.

1)Mr.A who has given his premises for office on rent.

2)Ledger a/c of "Lawyer" whose professional services are used but payment is pending.

3)Employee X who has submitted his travel claim. ( travel-Lodging & Boarding dr To employee)

4) Car purchased from Dealer-ABC
Price: 100000, advance paid 50000,
balance payable in 5 yrly instalments @ 12000 per yr.
under which group shld the ledger ABC be created.

thanks
kirti.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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18 August 2010 1. Even if entire premises it given on rent group it under fixed assets. Do not charge any depreciation on it.

2. Lawyer under sundry creditors.

3. Sundry creditors as staff reimbursement.

4. Could be any secured loan or sundry creditors.

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Student

Student (Querist)
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18 August 2010 thanks!!
what I meant in no.1 was:
1)Mr.A who has given his premises for our office on rent.
i hope it comes under S.Crs (based on reply)

Aditya Maheshwari

Aditya Maheshwari (Expert)
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18 August 2010 Yes it will be sundry creditors only. I thought u were asking for the asset.

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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18 August 2010 yes. It is Creditors only

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