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.

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.

23 September 2017 RD shown in Deposits head..... Capital A/c To Interest on RD......

23 September 2017 RD to be classified in investment/Deposit account & Entry for interest will be RD A/C DR To Interest on RD

23 September 2017 Agreed with CA Ashwini Ballodia You can also pass entry as RD A/c To Interest on RD.....

23 September 2017 Thanks Rashmi Mam for telling me CA but till now I am not CA

23 September 2017 whether i have to pass journal entry for interest for RD .

23 September 2017 Yes you have to pass journal entry

23 September 2017 Yes you have to pass journal entry to book interest

24 September 2017 Yes you have to pass interest.....

24 September 2017 No worry Ashiwini assume yourself as CA for sometime.....

24 September 2017 Thanks for the lovely words. I will be becoming CA within 1 year

24 September 2017 Surely...........


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