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Which date take in books of accounts to book interest income

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(Querist)
02 February 2025 Transaction Date or Value Date
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
02 February 2025 In accounting practices, interest income is typically recognized on an accrual basis. So, for booking interest income, use the value date for determining when interest becomes effective but recognize that accrued interest should be recorded based on the end of an accounting period.
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