How to record the insurance amount paid to the insurance company?

First, you’ll have to create an account to track the insurance amount. To create an account in Zoho ERP:

• Go to the Accounting module in the left sidebar.
• Switch to Chart of Accounts tab in the modular bar.
• Click +New account.
• Include necessary details such as Account Type as Other Current Asset and an Account Name as Insurance Amount.
• Click Save to update your preferences for the account.

The amount paid to the insurance company can be recorded as journal. To record it,

• Go to the Accounting module in the left sidebar.
• Switch to the Manual Journals tab in the modular bar.
• Click the + New Journal button on the top right side of the page.
• Fill in the required details.
  • Debit the asset account (Insurance Amount in this case) and credit the bank account from which the insurance amount is paid.
• Click Save and Publish.