Tally loan entry
This query is : Resolved
22 March 2012
Respected sir,
I want to know the loan taken & loan given seperate entry in Tally, please reply as earlier as possible.
I want to know the loan taken & loan given seperate entry in Tally, please reply as earlier as possible.
CA Jitender Kanswal
(Expert)
22 March 2012
Dear
If you have taken loan from banks then create it under the head secured loan otherwise loan is taken from individuals or from any other source without proper security then create a head under unsecured loans.
for taking loan ..just credit that specific head. and debit bank A/c(if not in cash).
when you give loans, it is generally treated as advance given.
So create a head in tally with the name of that person under the category loans & advances (Asset).
Entry: Just debit that head and credit bank a/c ( if not in cash).
If you have taken loan from banks then create it under the head secured loan otherwise loan is taken from individuals or from any other source without proper security then create a head under unsecured loans.
for taking loan ..just credit that specific head. and debit bank A/c(if not in cash).
when you give loans, it is generally treated as advance given.
So create a head in tally with the name of that person under the category loans & advances (Asset).
Entry: Just debit that head and credit bank a/c ( if not in cash).
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