accounts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 June 2011
If one has taken Sweep in facility from a bank , then Please tell me How should the FD be shown in the asset side.
Exp
FD B4 sweep in 3097000 (1548500 Each)
there are so many sweep in , interest on sweep in and TD recovered.
how it should be shown after sweep in facility
please give me example also
Exp
FD B4 sweep in 3097000 (1548500 Each)
there are so many sweep in , interest on sweep in and TD recovered.
how it should be shown after sweep in facility
please give me example also
18 June 2011
When Purchased
you need to show in the assets side only the amount of FD when it purchase
on all sweep in
reduce the amount of FD crdited back to your account
Bank always credit Interest Amount and Sweep in amount separatly
entries will be
when FD made
Fixed Deposit Account Dr. XXX
To Bank Account XXX
When FD swep
Bank Account Dr. (With the total amount credited) XXX
To Fixed deposit Account XXX
To Interest Recd on FD A/c XXX
you need to show in the assets side only the amount of FD when it purchase
on all sweep in
reduce the amount of FD crdited back to your account
Bank always credit Interest Amount and Sweep in amount separatly
entries will be
when FD made
Fixed Deposit Account Dr. XXX
To Bank Account XXX
When FD swep
Bank Account Dr. (With the total amount credited) XXX
To Fixed deposit Account XXX
To Interest Recd on FD A/c XXX
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CLOSING STOCK QUERY
- Taxation on Old jewellery sold
- ITR-Capital Gain
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- Reporting in TDS return
- Error in uploading Form 10BD
- Query regarding reporting of exempt foreign remuneration in ITR
- F&O reporting in ITR
- TDS on rent received on hardship compensation being rent on redevelopment of building
- NRI INSURANCE ADVISOR
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
