In Tally.ERP 9 we have a different Ledger Group available for recording the Loan taken from a Financer or Bank by not providing any Security. And it should not be considered as Loans and we must be treated as Unsecured Loan.
|Unsecured Loan Ledger Account Creation in Tally.ERP 9|
So, let us use that Group to create the Unsecured Loan Ledger Account. Select your Company in Tally.ERP 9 and get to the Ledger Creation screen
- Enter the name of the Unsecured Loan given party name under Name field.
- Select Unsecured Loans from the List of Groups for Under field.
- Provide the Mailing Details, Tax Information and other details if required.
- If there is any Opening Balance enter it.
Accept the screen to create the Unsecured Loan Ledger. And this is how to create an Unsecured Loan Ledger account in Tally.ERP 9 Accounting Software.