Loans (Liability)

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

Field information for Loans (Liability) ledger:

Under groupHere select the Loan(Liabilities) ledger 
Account NameHere write your account name. Mandatory field
Short/Alias NameHere write your account short name. 
EmailHere write your account Email address. 
Mobile No.Here write your account mobile no. 
Include in assessable value calculation forHere select Include in assessable value calculation for Not applicable or GST.   
Appropriate ToHere select your ledger appropriate to the option. 
Method of calculationHere the select the method of selection. 
DescriptionHere write your ledger description. 
HSN/SACHere write your bank IFSC code. 
GST rate(%)Here select the GST rate 
Is TDS deductibleHere select TDS rules.
Deduct TDS in same voucher?Here select Yes or No options.
Account Holder’s NameHere write the account holder’s name.
A/C No.Here write the account number.
IFSC CodeHere write IFSC code.
Bank NameHere 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.