Angad kr kannaujiya (Studant) (169 Points)
23 April 2011Tally Entry
at the end of year the closing entry will be---- Dr Interest Recievable To Interest . but when we pass this entry at the end of year and chack particuler ledger a/c this Int. does not show with Parcticuler Ledger A/c . and when we pass other entry like --- Dr Party A/c ( F.D.) To Interst , then Total F.D( Investment ) increased with Interest amt. in B/S.
Plz guid me on this entry how to correct it .
thanks in advance
CA Saroj Kumar
(Keen to learn something new every moments)
(2588 Points)
Replied 23 April 2011
first entry is correct
u hv to shw as follows
interest.-----------indirect income
interest receviable -------- current assets
F.D----------Current assets.
CA Saroj Kumar
(Keen to learn something new every moments)
(2588 Points)
Replied 23 April 2011
/forum/how-to-enter-fd-fixed-deposit-entries-in-tally-122819.asp
visit this links it will clear ur all doubt.
Angad kr kannaujiya
(Studant)
(169 Points)
Replied 25 April 2011
Dear Saroj Just try to understand my problem
That entry is absolutely right .but my problem is, Int . as on 31.03.11 ( Int. 250000/- Quarterly ) and rcvd 02.04.11 . if F.D. is 500000/- and Dr Party A/c ( F.D.) To Interest, then total F. D. value is 525000/- as on 31.03.11 and ur Investment does not show true value, But when we pass this entry at the end of year Dr Interest Receivable To Interest and check particular ledger a/c, this Int. does not show with Particular Ledger A/c .
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 25 April 2011
make a ledger "interest on FD receivable" in current assets
now the entry would be
interest on fd receivable
to
interest on FD
hope this will resolve the prob
CAclubindia
