Please help fixed deposit in receipt and payment account

1191 views
User Avatar

Student
1374 Points Posted on 09 August 2022
how to show the same. is it going to be part of closing balance? or same is shown as an expense
1 Reply Share Follow
On 09 August 2022 at 19:07 Report
Replies (7)
Quick Summary
This discussion clarifies how to accurately represent Fixed Deposits (FDs) within a Receipts and Payments Account. FDs are considered cash equivalents and should be included in the closing balance, but not as part of the cash and bank balance itself. The amount used to book an FD should be shown as a payment in the account, as it's not an expense but a temporary allocation of funds.

User Avatar

Chartered Accountant
86505 Points Posted on 09 August 2022
Same is shown under payment as fd booked or fd made
Reply
On 09 August 2022 at 21:48
User Avatar

CFO- at NHTF
58280 Points Posted on 10 August 2022
FD is cash equivalent and it is form part of closing balance
1 Reply
On 10 August 2022 at 07:51
User Avatar

Chartered Accountant
86505 Points Posted on 10 August 2022
Not an part of cash and bank balance.
Reply
On 10 August 2022 at 20:24
User Avatar

CFO- at NHTF
58280 Points Posted on 20 August 2022
Query is about Receipts and Payments Account
Reply
On 20 August 2022 at 16:42
User Avatar

Chartered Accountant
5010 Points Posted on 20 August 2022

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

1 Reply
On 20 August 2022 at 17:22
User Avatar

CFO- at NHTF
58280 Points Posted on 20 August 2022
@ Ankush,

It's not expense since it will be credited back on maturity..
Reply
On 20 August 2022 at 19:13
User Avatar

Chartered Accountant
86505 Points Posted on 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.
1 Reply
On 21 August 2022 at 00:05

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Sec 8 company sec 12ab reg
  2. AIS Password: How to Open Your AIS PDF?
  3. Interview Questions
  4. ITR Filing Last Date 2026
  5. Tds - filing Conso File for tax year 2026-27
  6. ITR-3 Filing For AY 2026-27 - Tips
  7. Capital Gain on sale of Depreciated Factory Gala
  8. Interesting Observation from a Recent Income Tax S
  9. ITR 3 Utility Not Taking Marginal Relief on Net To
  10. MV Electrosystems IPO Allotment Date, Status Check

More recent discussions | Post

Related Topics :

Loading
Follow