How to enter FD(fixed deposit) entries in Tally

For entries 1st yr.

1) FDR A/c  5000 Dr

 To Bank A/c               5000

2)FDR A/c Dr 400

To Interest recd. a/c 400

For entries 2nd yr.

FDR A/c Dr  432

To Interest recd.a/c 432

for 3rd yr.

FDR A/c Dr  467

To interest recd.a/c 467

Final entry for maturity will be

Bank A/c Dr 6299

To FDR A/c 6299

what entries should be at the time of partial withdrawn of  FD

 

Interest on FD comes under???????
 

Interest on FD comes under???????
 

Fixed Deposits should come under Investments and not under Deposits

yes

She is Right

Thanks for your Help....

I am passing fixed deposit entry in tally but i need your help should i pass entry in journal or payment

 

Hi,

My company made FD with GSFS of Rs. 66,26,000/-

and we got interest at maturity is              1,28,027/-

Total                                                     67,54,027/-

 

Now we renew the FD with Interest but my FD A/c shows difference of Rs. 1,28,027/-

 

how to solve this?

ACCRUED INTEREST ON FD 

          OR

INTEREST RECEIVABLES

comes under CURRENT ASSETS

THANKS TO ALLOF U  FOR SHAREING USEFUL IFORMATION.

 

 

 

ARUNESH JUMAR

IN WHICH GROUP UNDER OPEN FD LEDGER

 

TDS on FD Interest which under head

Dear freind It will comes under (current assets ) head

At the time of FD. Supposed Fd a/c Dr....... 50000 To bank..... 50000 Interest accrue enter with tds You can make tow type of entry. First FD. /ac. Dr. 4500 Tds receivable(17-8) a/c Dr. 500 To interest on FD. 5000 If you done this entry so you can understand how much right now you have balance in FD a/c Second Interset Accure on FD a/c 4500 Tds receivable a/c Dr. 500 To interest on FD. 5000 (under indirect income) after done second entry you have show two current assets under your book 1. Fd a/c 2.interest accrue on FD You may make adjustments entry as on 31.3.18 Fd a/c Dr 4500 To interest accrue on fd 4500 thanks