Home loan receipt entry

447 views 3 replies

I had taken home loan in the name of my Wife for construction of new house. Bank has given cheque in the name of Contractor, as we had done agreement with contractor. Can anyone help for this points :

How to pass account entry in my wife's account in tally ? Should i have to create account of contractor ?

Replies (3)
No...u simply Debit Building A/c and credit Bank A/c....contractor need not play any role in ur books of accounts😊

Hope i am able to solve ur queries....for any further clarification u can personal text me

Paid by bank to Contractor

Contractor A/c Dr.

To Bank A/c

 

On complete of construction

(House property / Building / Home) A/c Dr.

To Contractor A/c

Lately, I have heard more people thinking of taking mortgages to buy a house. Nowadays, I admit that even cheap house rises to huge prices. Still, you need to find a good mortgage company. We bought our house last year, and we are lucky that we took a mortgage loan from Mortgage Broker Chelmsford. Besides having convenient terms, we understood better what would work for us, and they did everything based on our wishes. I wouldn't hesitate to say that they made our house purchasing a more pleasant experience.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 15 July 2026
CA Articles

Kinjal H Shah & Co.

Mumbai

CA Foundation

View Details
Company
ARTICLESHIP 16 July 2026
Article Assistant

G A R U D & Associates

New Delhi

CA Inter

View Details
Company
06 July 2026
Chartered Accountant (Indirect Taxation)

Gowra Ventures Pvt Ltd

Hyderabad

CA

View Details
Company
06 July 2026
Senior Accountant

Arvindkumar Maniar & Co.

Rajkot

CA

View Details
Company
Featured 16 July 2026
CA Inter, CA Intermediate, CA IPCC, CA CPT , CA SemiQualifie

Vakilsearch.com

Chennai

CA Inter

View Details
Company
ARTICLESHIP 16 July 2026
Article Assistant

Sahil Agarwal & Company

Mumbai

CA Inter

View Details
Company
16 July 2026
CA Inter, CA Intermediate, CA IPCC, CA CPT , CA SemiQualifie

Vakilsearch.com

Chennai

CA Inter

View Details
Company
Featured 24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details