Dear Professional.
We have taken car loan from ICICI for the period of 15.05.11 to 16.02.2014, in that we processed only bank payent entry there is no JV in Tally. how to proceed further/ pass the necessary entry into books.
Thansk in Advance
Deva
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Car loan
Replies (1)
What is current closing balance of the loan as per statement, incorporate it by JV as
Loan A/c Dr
to Capital A/c(If proprietor or firm only)
Then pass regular entries to the loan account by bifurcating principal & interest seperatley.
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