There is a specific Ledger Group available in Tally.ERP 9 Accounting Software for Secured Loan Ledger Account creation. Loans such Housing Loan, Car Loan, Personal Loan, Educational Loan taken from Banks or Financial Institutions are Secured Loans as a security (movable or immovable asset) is lodges at the lender.
|Secured Loan Ledger Account|
In order to create a Ledger Account for Secured Loans just open your Company in Tally.ERP 9 Accounting Software. In order to create the Ledger account in Tally.ERP 9 from Gateway of Tally screen
- Select Accounts Info > Ledgers
- From Ledger menu choose Create option under Single Ledger if you are creating only one Account Ledger or if are required to create more than one Account Ledger choose Create option under Multiple Ledgers.
- In the Ledger Creation screen enter the name of the Account in the Name field. e.g. Axis Bank Car Loan
- And choose Secured Loans groups from the List of Groups in the Under filed.
And accept the screen to create the Ledger Account. And this is how to create a Secured Loan Account Ledger in Tally.ERP 9.