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EASYOFFICE

Car loan entry

This query is : Resolved 

14 April 2015 dear sir , we purchase a car(which is our fixed assets) and made first payment by bank and paying rest amount in EMI , i want to know how to make entry in tally? and Is EMI will be under indirect exps and first cheque payment comes under which group ? please answer me in detail.

14 April 2015 when buy

car a/c
to finance co.
to bank a/c


EMI PAYMENT

finance co. a/c DR.
intt on loan a/c DR.
to bank A/C

14 April 2015 when buy

car a/c
to finance co.
to bank a/c


EMI PAYMENT

finance co. a/c DR.
intt on loan a/c DR.
to bank A/C




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