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Please help fixed deposit in receipt and payment account
how to show the same. is it going to be part of closing balance? or same is shown as an expense
Replies (7)
Same is shown under payment as fd booked or fd made
FD is cash equivalent and it is form part of closing balance
Not an part of cash and bank balance.
Query is about Receipts and Payments Account
Shosw the FD made amount as payment under the receipts and payments account.
@ Ankush,
It's not expense since it will be credited back on maturity..
It's not expense since it will be credited back on maturity..
Here querist ask where to show in receipts and payment. He meant that amount shown in cash balance or shown as payment.
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