FD renewal

No entry required for renewal of FD in bank

he inventory write off journal entry is as follows:

No,Need to Entry for renewal of FD in bank

 

hai,

1) 

For FD Matured

Bank Dr       Full amt matured

To FD Cr.         FD Amt

To Interest Accrued Cr. (Interest Accrued)

To Interest  earned  A/c Cr.(Current month interest)

2)

For FD Reinvested

FD A/c Dr. (With full amt matured)

To Bank A/c Dr. (With full amt matured)

No need to Do Entry but you can make  entry for information of renewal 

DR -FD With BANK

CR- FD With Bank

(Narration- Renewed FD Details)