Fixed deposit & its interest accounting

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1 Points Posted on 05 July 2018

i have a probem while accounting Fixed deposit & interest. I have an FD its opening balance is 42,50000 as on (01.04.2017) at the time of closing the financial year (31.03.2018) its interst accrued to 4,04725. but the interest is not received in Bank & not found in 26As. the interest portion is added back to FD.

How to Pass entries in Tally ?

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On 05 July 2018 at 11:50 Report
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officer
36 Points Posted on 05 July 2018
interest is accrued income and fd is current asset
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On 05 July 2018 at 17:46
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"Do the Right Thing...!!!"
128152 Points Posted on 08 July 2018
You ll just add the Interest to FD Account which is above said...
Prepare a Ledger named as "INTEREST RECEIVED ON FD - INDIRECT INCOME"

prepare Journal as following;

Dr. FD Account - Rs. 4,04,725
Cr. Interest Received on FD - Rs. 4,04,725
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On 08 July 2018 at 07:12
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24196 Points Posted on 08 July 2018
Follow Raja sir answer............
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On 08 July 2018 at 10:06

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