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  5. I have taken a loan of $30,000 to buy a car for my organization. Every month I pay $750 (interest + Principal). How do I record and track this loan and interest in Xs Erp?

I have taken a loan of $30,000 to buy a car for my organization. Every month I pay $750 (interest + Principal). How do I record and track this loan and interest in Xs Erp?

  • Create a “Ledger” in the Name of the “Car Loan” and the Bank Name Issuing Loan
  • Create “voucher” Choose the Car Loan Ledger
  • as “Dr” and Bank Ledger as “Cr” Enter the “Amount
  • Click “Save
  • For Every “EMI” Paid Create a “New” Voucher

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