NAME OF THE GROUP

Dear Sir

We have a two business firms.firm a issue a cheque to firm B for some need. please suggest in tally firm a in which group crate the ladger for B
and same for B in which group create the ledger for Firm a
Replies (2)
Quick Summary
This discussion explores the best way to group ledger accounts in Tally when one business firm issues a cheque to another. It suggests placing Firm A's cheque ledger under 'Loans and Advances' in its own books, and Firm B's ledger for receiving the cheque under 'Current Liabilities' or 'Unsecured Loans' in its books.

In the books if firm A

B's Ledger A/c under Loan and Advances

In the books of firm B

A's Ledger A/c under Current Liabilities
For A, Loans and advances
For B, Unsecured Loans

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