Entry for Interest on FD in Tally

Required journal entry on Interest on Fixed Deposite?

Suppose Fixed Deposite is Rs.30Lcks

and every month bank paying interest on that and the same again reinvested into that...

How to book these entries in Tally?

Fixed Deposite A/c Dr.(monthly)

       To Accrued Interest A/c (monthly)

pass this entry every month with monthly interest

and at the year end reverse accrued entry with;

Accrued Interest A/c Dr.(yearly total)

        To Interest Income A/c (yearly total)

Whether these entries are correct?