Personal accounting using tally

Discussion in 'Accounts' started by dinesh, Oct 3, 2013.

  1. dinesh

    dinesh Member

    I started using Tally for managing my personal account as salaried. Following are my few questions to start off 1. I want to create account heads for my various credit cards. What will be the type of these credit card account? Current Liability or Direct Expenses or Bank Account or what else? If i make a payment to credit card through my bank account, what type of voucher i will require to enter contra or payment? 2. What will be the account type for Fixed Assets? 3. What will be the account type of my property? What sort of entries will be done for maintenance charge, brokerage, sale proceeds? 4. How do i need to handle opening balance for property accounts? I am starting books from 01-Apr-13

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