insurance premium is an amount paid to an insurance company for a policy that provides coverage for certain risks. Insurance premium can be a business expense if it is related to the business operations and activities.
To record insurance premium entry in Tally Prime, you need to follow these steps:
Debit: Insurance Premium Credit: Cash/Bank
To record insurance premium entry in Tally Prime, you need to follow these steps:
- Create a ledger for insurance premium under Investments / Current assets group. You can name it as Insurance Premium or any specific name as per your requirement.
- Create a ledger for cash or bank account under Cash-in-hand or Bank Accounts group, depending on the mode of payment.
- Go to Accounting Vouchers > F5: Payment.
- Select the date and voucher number.
- Select the cash or bank ledger from which the payment is made.
- Select the insurance premium ledger and enter the amount paid.
- Enter the narration if required and save the voucher.
Debit: Insurance Premium Credit: Cash/Bank
- बीमा प्रीमियम के लिए Investments / current assets समूह के अंडर एक लेजर बनाएं। आप इसे Insurance Premium या अपनी आवश्यकता के अनुसार कोई विशिष्ट नाम दे सकते हैं।
- Cash-in-hand या Bank Accounts समूह के अंडर कैश या बैंक खाते का एक लेजर बनाएं, भुगतान के मोड के आधार पर।
- Accounting Vouchers > F5: Payment में जाएं।
- तिथि और वाउचर संख्या का चयन करें।
- पेमेंट किया हुआ कैश या बैंक लेजर का चयन करें।
- Insurance Premium Ledger का चयन करें और पेमेंट की हुई राशि प्रविष्ट करें।
- प्रयोजन होने पर narration प्रविष्ट करें और voucher save करें।
Insurance premium paid की journal entry होगी:
Debit: Insurance Premium Credit: Cash/Bank
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