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Sir recurring deposite in tally in which head.

This query is : Open 
Quick Summary
Recurring Deposit is classified under investments or deposits head, not bank. Interest earned is recorded via journal entry by debiting RD account and crediting interest income account.

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(Querist)
23 September 2017 Sir,

Recurring deposite in tally comes under which head investment or bank.
And how to pass the entry in tally Interest received from Recurring deposit.
Please guide me.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
23 September 2017 RD shown in Deposits head..... Capital A/c To Interest on RD......
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Ashiwini Ballodia

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Ashiwini Ballodia (Expert)
23 September 2017 RD to be classified in investment/Deposit account & Entry for interest will be RD A/C DR To Interest on RD
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
23 September 2017 Agreed with CA Ashwini Ballodia You can also pass entry as RD A/c To Interest on RD.....
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Ashiwini Ballodia

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Ashiwini Ballodia (Expert)
23 September 2017 Thanks Rashmi Mam for telling me CA but till now I am not CA
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Ashim kr Ray

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Ashim kr Ray (Querist)
23 September 2017 whether i have to pass journal entry for interest for RD .
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Ashiwini Ballodia

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Ashiwini Ballodia (Expert)
23 September 2017 Yes you have to pass journal entry
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Ashiwini Ballodia

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Ashiwini Ballodia (Expert)
23 September 2017 Yes you have to pass journal entry to book interest
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
24 September 2017 Yes you have to pass interest.....
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
24 September 2017 No worry Ashiwini assume yourself as CA for sometime.....
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Ashiwini Ballodia

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Ashiwini Ballodia (Expert)
24 September 2017 Thanks for the lovely words. I will be becoming CA within 1 year
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
24 September 2017 Surely...........
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