HI,
Okey this one is messy. I use tally for my personal accounting. Now i have a credit card of X bank which my friend John use and i also do some transactions from that card. Now everymonth he uses the card, when statement generates i debit his account and when he pays i credit his account accordingly. So this way i know how much he owes me everymonth and also my credit card account is tallied. Now the Tricky part his here. This month he has purchased a laptop through credit card and converted the same into EMI from bank. Now how do i manage a loan account for which everymonth a EMI gets debited from my credit card for which in turn i debit my friend account and for which in turn he pays me without affecting my personal expenses.
CAclubindia
