Fd accounting
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 November 2013
Hi
1.Can u pls let me know the accounting procedure for TDS On fixed deposit?
2.If i get FD int from bank what are the entries to pass other than receipt entry?
1.Can u pls let me know the accounting procedure for TDS On fixed deposit?
2.If i get FD int from bank what are the entries to pass other than receipt entry?
CMA Ramesh Krishnan
(Expert)
06 November 2013
Dr: Fixed deposit
Dr: TDS receivable a/c
Cr: Interest a/c
since the interest credited to the fixed deposit a/c. and we can add to fd a/c
Alternatively
you can show interest received separately
Dr: Interest accrued on FD
Dr:TDS receivable a/c
Cr: Interest a/c
Dr: TDS receivable a/c
Cr: Interest a/c
since the interest credited to the fixed deposit a/c. and we can add to fd a/c
Alternatively
you can show interest received separately
Dr: Interest accrued on FD
Dr:TDS receivable a/c
Cr: Interest a/c
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