Please help fixed deposit in receipt and payment account

Ankush (Student) (1309 Points)

09 August 2022

how to show the same. is it going to be part of closing balance? or same is shown as an expense

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7 Replies

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 09 August 2022

Same is shown under payment as fd booked or fd made

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 10 August 2022

FD is cash equivalent and it is form part of closing balance

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CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 10 August 2022

Not an part of cash and bank balance.

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 20 August 2022

Query is about Receipts and Payments Account

CA Puja Sharma (Chartered Accountant) (4874 Points)
Replied 20 August 2022

Shosw the FD made amount as payment under the receipts and payments account.

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Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 20 August 2022

@ Ankush,

It's not expense since it will be credited back on maturity..

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 21 August 2022

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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