Group Name

Sir

We have purchased Car via bank loan.please suggest in tally which group create the ledger in Bank
Replies (3)
Quick Summary
This discussion clarifies how to set up ledger groups in Tally for a car purchased via a bank loan. The consensus is to group the car under 'Fixed Assets' and the bank loan under 'Current Liabilities'. It's also noted that car insurance premiums should be expensed, not capitalised.

Car - under fixed...
Loan - Current Liability...

Note : car purchased by company then it's under fixed asset
Agree with raja pm
Also entry

car insurance premium Dr
to bank

ins premium not to be capitalised.

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