Insurance Premium Under Tally
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Insurance premium paid 5000 to new india assurance co ltd on may 1st 2016 for 1 year.
Insurance premium under tally. To cash or bank account how to record insurance premium in tally erp 9. Cash or bank ledger under cash in hand or bank accounts head. Query on how to enter in tally medical insurance accounts.
Premium ledger under investments head. Insurance premium interest on loan legal charge loss by fire duties and taxes direct expenses indirect expenses. Tally ledgers creation under group of accounts is main part of tally erp 9 implementation.
Tally ledger under group list in hindi ledgers are very important part for journal entries in tally here we provide list of common ledgers created for profit and loss account balance sheet and for trading account. If you want to pass voucher entry for such a transaction in tally erp 9 accounting software then you need to have the following ledgers in your company. Check complete list of tally ledgers created under group list of tally erp 9 and earlier tally versions.
If the insurance premium amount is deduced from capital account we can record the maturity amount by crediting the capital account. List of tally ledgers groups list. More in this category.
List of ledgers under group in tally erp9 here in this post i am trying to provide you all the list of ledgers required for a new company opened in tally erp 9 under the head and sub sub heads groups this post is aiming for beginners who doesn t know how to start with and what are the ledgers required for a newly started business. In tally erp 9 accounting software the accounting treatment of life insurance maturity amount will be based on the transactions recorded for the life insurance premiums payments recorded in your company. The expense is spread over more than one financial year that is the expense is shared in fy 2016 17 may 2016 to march 2017 is 11 months hence current fy premium is calculated as 5000 12 11 4583 00 and for fy 2017 18 1 month 5000 12 10 417.
Vat payable all expenses which appear in trading account except purchases like labor power electricity expense factory. Here is the list of ledger head and respected group of ledgers. Postage courier repair charge taxi fare telephone charge.
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