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How to record Loan disbursement entry in Tally.ERP 9?

When a Secured or Unsecured Loan is granted to a Customer mostly the Banks or Financial Credit Organization will disburse the credit amount either through Account Payee Cheque or directly credits his Bank Account if he has Account at its Institute. And we can record the Loan Disbursement transaction in Tally.ERP 9 using the Receipt Voucher Type.

How to record Loan disbursement entry in Tally.ERP 9?
Loan Disbursement entry in Tally.ERP 9

In Tally.ERP 9 Accounting Software we can maintain the accounts of Secured and Unsecured Loans taken from Banking sector or other Financing Institutions. If a loan is taken against a security by lodging it at the Lender it is considered as Secured Loan. If no security is loaded at the financer the loan is granted upon a Guarantee of a third party then such loan is considered Unsecured Loan.

In Tally.ERP 9 we can record the Secured and Unsecured Loan transactions using the various Voucher Types available in the Software. And before that we must create the Ledger accounts for the following Accounts.

After we have created the above cited ledger account we can record the loan disbursement transaction in Tally.ERP 9. In order to record the transaction, just open the Receipt Voucher Type from Gateway of Tally.

  1. Credit the Unsecured Loan Account ledger enter the disbursed amount and
  2. Debit the Bank Account in which the loan amount is transferred and enter the amount.

After that save the screen and this is how to record the Loan disbursement transaction in Tally.ERP 9.

is the founder of AccountsGuy.Net with the view of providing Accounting and Technical support using Accounting package Tally ERP 9, and Office Tools to the people. I write articles on Accounts, Blogging, Computer Operating, and technical issues and some of my experiences on them for students, beginners. Follow our Networks or sing-up for the email newsletter below for your daily dose of Tips and Tricks.
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