NAME OF THE GROUP

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Assistant
362 Points Posted on 02 November 2020
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
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On 02 November 2020 at 21:54 Report
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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.

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Accountant
3662 Points Posted on 02 November 2020
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
1 Reply
On 02 November 2020 at 22:17
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13 Points Posted on 02 November 2020
For A, Loans and advances
For B, Unsecured Loans
1 Reply
On 02 November 2020 at 22:56

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