04 September 2020
We have one situation and is described as:
Suppose LOAN is taken from PNB bank & is transferred to the Company's bank account- IDBI bank. Later on, the loan is transferred to the owner's Saving account (VIJAYA BANK).
But EMI payment is being done thru company IDBI Bank account only. How entries will be done?
Eg.
MAIN COMPANY > LOAN from PNB bank > Get the loan from pnb bank > Amount is credited to the company's IDBI current bank account > Later loan is transferred to owner's personal saving bank a/c (VIJAYA BANK) > EMI is paid by company's current bank account till date.
A loan is taken 4 years back. Which entries need to be passed in Quickbooks/ Tally?