How to pass entry (portfolio management entry)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 June 2014
DEAR SIR,
I AM INVEST IN HDFC PORTFOLIO ,AS ON 14-APRIL-2014 I HAVE RECEIVED PRINCIPAL AMT ,INTEREST AFTER DEDUCTING TDS ,WHAT ENTRY I SHOULD PASS AS ON 31-MARCH-2014 BECAUSE THIS IS AMT TILL 31-MAR-2014
I AM INVEST IN HDFC PORTFOLIO ,AS ON 14-APRIL-2014 I HAVE RECEIVED PRINCIPAL AMT ,INTEREST AFTER DEDUCTING TDS ,WHAT ENTRY I SHOULD PASS AS ON 31-MARCH-2014 BECAUSE THIS IS AMT TILL 31-MAR-2014
13 June 2014
the investment account shall remain as it is. for the interest/income portion, if you are following accrual accounting, you may create an interest receivable (at gross level) position as current asset.
in cash basis, you dont have to account for the income at all as on 31 march 2014.
in cash basis, you dont have to account for the income at all as on 31 march 2014.
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