VEHICLE DUE & INTEREST REG-

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This discussion clarifies how to accurately enter vehicle finance payments, including both the principal amount due and any accrued interest, into Tally accounting software. The recommended method involves using a payment voucher to debit the finance due ledger and the interest ledger separately, while crediting the bank account for the total amount paid. This ensures both components of the payment are correctly accounted for.

ramya

ramya (Querist)
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05 December 2023 School van was purchased through finance, how to entry the due amount with interest in tally.? for ex: Due amount was Rs.20000 & interest was Rs.10000. In tally single entry system, i made entries in payment voucher like, accounts - bank a/cs (credit ); ledger- finance due (debit )-20000 ; interest (debit)-10000; in total 30000/-. is that right.?