While Recording a transaction regarding hire purchase. Is it good that we charge this to 1 month or we need to charge this in parts?

well, it depends if you are sure that the hire purchase will be for a complete month or couple of months, you can record it monthly. but ut would be better if you record it as it occurs day by day. because if you record it day by day even you discontinue that hire purchase during the month your results will be accurate and you will need not to pass furthure entries to adjust the balance as in case of monthly recording.