Here you are able to manage your Loan & Liabilities ledger.
Create Loan & Liabilities account:
- Go to the Account module in the left sidebar
- Click on Create account button or press the Alt+N key
- Select Loan & Liabilities ledger on Under group ledger drop-down list
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Field information for Loans (Liability) ledger:
| Field | Description | Note |
|---|---|---|
| Under group | Here select the Loan(Liabilities) ledger | |
| Account Name | Here write your account name. | Mandatory field |
| Short/Alias Name | Here write your account short name. | |
| Here write your account Email address. | ||
| Mobile No. | Here write your account mobile no. | |
| Include in assessable value calculation for | Here select Include in assessable value calculation for Not applicable or GST. | |
| Appropriate To | Here select your ledger appropriate to the option. | |
| Method of calculation | Here the select the method of selection. | |
| Description | Here write your ledger description. | |
| HSN/SAC | Here write your bank IFSC code. | |
| GST rate(%) | Here select the GST rate | |
| Is TDS deductible | Here select TDS rules. | |
| Deduct TDS in same voucher? | Here select Yes or No options. | |
| Account Holder’s Name | Here write the account holder’s name. | |
| A/C No. | Here write the account number. | |
| IFSC Code | Here write IFSC code. | |
| Bank Name | Here write your bank name. | |
| Opening Balance | Here put your ledger opening balance | |
| Is Active? | Here if you select “Yes” then this account is shown in all modules and if you select “No” then this account is not shown in all modules. |
