Ledger in tally

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Assistant
362 Points Posted on 13 March 2021
Sir

We have received some amount from firm abc for business purpose i have create the ledger firm abc under unsecured loan. Now we have purchase some goods from firm abc so please advise can I need to create the 2nd ledger under sundry creditor or book the bill under first ledger
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On 13 March 2021 at 13:22 Report
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Quick Summary
This discussion addresses the correct way to set up ledgers in Tally ERP 9 when dealing with a firm that acts as both a lender and a supplier. It clarifies that separate ledgers should be created for unsecured loans and sundry creditors, rather than using a single ledger for both purposes. The advice recommends classifying the loan under 'Loans' and the supplier under 'Sundry Creditors' for accurate financial record-keeping.

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My grammar is 💯 good I
7306 Points Posted on 13 March 2021

I know this for creating multiple ledgers: 

you have to create loans and sundry creditors separately. 

https://tallygame.com/masters/list-of-ledgers-under-group-heads-tally-erp9/

Next unsecured loans is not the correct option if you check the above link. Classify it as loan and abc as creditors.. 

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On 13 March 2021 at 14:42
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Chartered Accountant
24588 Points Posted on 13 March 2021
No create another ledger under creditor
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On 13 March 2021 at 15:38

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