Interest Cal.

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Querist : Anonymous

Querist : Anonymous (Querist)

09 July 2011 How to Calculate Accured Interest .......
Suppose a FDR of Rs. 500000/-
Created date -- 09-07-2011
Maturity date ---09-07-2012
Rate of interest---8%

than Accured interest -----????
Interest Received --------??????

When we wiil book accured interest on the maturity or created date

Whate will be entry on my books

Aditya Maheshwari

Aditya Maheshwari (Expert)

09 July 2011 search in files section for accrued interest calculation and search in bank statement for interest received if any.

Interest should be accounted for on accrual basis.

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Querist : Anonymous

Querist : Anonymous (Querist)

11 July 2011 not satisfy with your answer....please try to understand my question and than revert....

CMA Shrikant

CMA Shrikant (Expert)

11 July 2011 Dear,
I assume ur year end is 31 March
Interest received on maturity is Rs.40000 appox.
Accrued interst(9-7-2011 to 31-3-2012)is Rs.29041 and (1-4-2012 to 31-3-2013) is Rs.10954
Entry-For 31 march 2012 year end
1) Accrued Interest A/C........Dr 29041
To P&L A/c
Entry for 31 March 2013 year end at maturity
1)Accrued Interest A/C........Dr 10954
To P&L A/c
2)At maturity
Bank a/c.......Dr. 540000
To FD a/c 500000
To Interest Received a/c 40000
3)Interest Received a/c.....Dr 40000
To Accrued Interest A/C 40000

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Querist : Anonymous

Querist : Anonymous (Querist)

11 July 2011 Thank you so much......
fd maturity is before 31st march'11

but i understood logic so thanks...

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