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Interest payable
1) Interest payable A/c
To Creditors A/c
2) Creditors A/c
To Bank A/c
Please help me how to settle the interest payable A/c
Replies (3)
P&L A/c
To Interest Payable A/c
To Interest Payable A/c
Interest (Expense) A/c Dr. (P&L a/c) at the time of creation of Ledger
To Interest payable a/c. (Liability, BS Item)
but P & L A/c is already created in Tally Software
so I am not able to pass this entry.
Is there any other way.
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