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Vehicle Loan

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 June 2010 Hi Experts,

We have purchased a vehicle for office use i want to know what is the entries ihave to pass in tally9.

first payment 235964/-
installment 16029/-
amount financed 443040/-
36 installments

thanks in advance.
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
07 June 2010 CAR DR. (235964+443040)
TO BANK/CASH CR.235964
TO BANK CAR LOAN A/C CR. 443040

AFTERWARD , YOU HAVE TO MADE ENTRY MONTLY FOR INSTALMENT
BANK CAR LOAN A/C DR (PRINCIPAL AMOUNT)
INTEREST ON AUTOLOAN DR (INTEREST IN INSTALMENT)
TO BANK A/C CR. INSTALMENT AMT (16029)
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CA SANJAY MUKHERJEE

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CA SANJAY MUKHERJEE (Expert)
07 June 2010 Agree with expert.
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Querist : Anonymous

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Querist : Anonymous (Querist)
07 June 2010 B.K. Bansal Sir Thank you
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CA. Gurdeep Singh Chawla

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CA. Gurdeep Singh Chawla (Expert)
07 June 2010 well explained by Bansal ji
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