Menu
What is entry for Interest collected by bank od account
Hello all,
Pls I am doing BRS for the first time for the account type that is bank OveraDraft account.
So question is in the bank statement in particulars column it is written "Int coll : 1-4-2014 to 30-4-2014" in the withdrawal column amt is rs. 30,000/- so what should be the entry ?
Generally when bank collects interest entry is Interest a/c....Dr.
To bank a/c...Cr.
Now this is an OD account so pls guide me I have heard that in OD account entry will be opposite.
Replies (1)
Quick Summary
A Company may have various a/c viz., Cash Credit, O D,Current A/c & so on. If we want to maintain Interest incurred on the paritucular a/c where we have more than one a/c we may open as follows:
O D Interest a/c
Interest - C A A/c
It will enable how much interest paid to the Bank at the end of a particular period.
Recent Topics :
- Income tax act 2026
- Belated Return where Form 10IEA filed this year to
- GST Reconciliation Tool (2A vs Books) - looking fo
- TDS ON PF FORM 19 WITHDRAWAL
- Can a virtual office in Mumbai be used for company
- Eway and e invoicing in condition where 4 party ar
- Bank balance in ITR-3
- INCLUDING PROFITS FROM REIT / INVIT IN SHARE TRADI
- Tempsens Instruments IPO GMP Allotment Listing dat
- Upload Type - Correction. Not showing in TDS filli
Related Topics :
CAclubindia
