Fixed Assets purchased in Proper proprietorship Company on proprietor Credit Card EMI

I have purchased a Laptop in proprietorship Company from Credit Card of Proprietor, EMI taken from Credit card.

Request to inform tally entries to be done in Company accounts and Individual Accounts.

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Replies (5)
Quick Summary
This discussion explains how to handle fixed asset purchases for a proprietorship company made using the owner's personal credit card and EMI. It outlines the necessary Tally entries, including creating asset ledgers, recording the purchase, and managing the liability for the credit card payments. The advice emphasises the business entity concept, ensuring company assets are accounted for separately from personal finances.

Create ledger journal as laptop under assets.

Then

Purchases a/c (I think one has the option to select the laptop) 

To Supplier a/c

To Payables a/c

whenever you meet the instalments 

Payables a/c

To Bank a/c

however, while creating a liability, it is better to create laptop loan payables liability as well in journal ledger. Hope this tallies. 

Forgot to mention, payment should our also be recognised for first transaction in payments voucher. 

https://www.caclubindia.com/experts/how-can-i-enter-a-car-loan-entry-in-tally--1711514.asp

my answer is similar. Hope this will further clarify

You can choose accounting invoice mode in tally to make thid purchase entry. 

Since I'm 90 years old I know all tally entries now.

Purchases voucher- F9

Ledger accounts - supplier name

Bank name

And purchase details 

And you you owner is a bull crap because we don't care about how you purchased it - business entity concept lol

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