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Tally Entry

Tally 1502 views 6 replies

Tally 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

Replies (6)

first entry is correct 

u hv to shw as follows

interest.-----------indirect income

interest receviable -------- current assets

F.D----------Current assets.

but dear, F.D is as Investment

/forum/how-to-enter-fd-fixed-deposit-entries-in-tally-122819.asp

visit this links it will clear ur all doubt.

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 .

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

I'm still looking ...


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