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Vechil insurance entry in tally prime

Sayed Nabil (385 Points)

17 September 2024

Please provide tata Ace insurance and car insurance which is firm name
how to pass the entry in tally prime please provide entrys in details

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Rama chary Rachakonda (Master in Accounts & high court Advocate) (8567 Points)
Replied 17 September 2024

Here are the entries for Tata Ace insurance and car insurance in Tally Prime: *Tata Ace Insurance* 1. Create a ledger for Tata Ace Insurance under "Indirect Expenses" in Tally Prime. - Go to "Gateway of Tally" > "Accounts Info" > "Ledgers" > "Create" - Enter "Tata Ace Insurance" as the name and select "Indirect Expenses" as the group 2. Create a voucher for the insurance premium payment. - Go to "Gateway of Tally" > "Accounting Vouchers" > "F5: Payment" - Select the bank account and enter the payment details - Select "Tata Ace Insurance" as the expense ledger 3. Pass the entry: - Debit: Bank Account (e.g. "HDFC Bank") - Credit: Tata Ace Insurance (Rs. XXXX) *Car Insurance* 1. Create a ledger for Car Insurance under "Indirect Expenses" in Tally Prime. - Go to "Gateway of Tally" > "Accounts Info" > "Ledgers" > "Create" - Enter "Car Insurance" as the name and select "Indirect Expenses" as the group 2. Create a voucher for the insurance premium payment. - Go to "Gateway of Tally" > "Accounting Vouchers" > "F5: Payment" - Select the bank account and enter the payment details - Select "Car Insurance" as the expense ledger 3. Pass the entry: - Debit: Bank Account (e.g. "HDFC Bank") - Credit: Car Insurance (Rs. XXXX) Note: Replace "Rs. XXXX" with the actual amount of the insurance premium.

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