journal entry

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 August 2010 please suggest accounting entry in tally for fixed deposite Rs 85,000000/- for three year with TDS effect for 1 st ,2nd ,3rd year

21 August 2010 In case of it, First pass entry for Fixed Deposit and then @ the year end pass entry for interest accrued on it by debiting Fixed Deposit or Interest Accrued on Fixed Deposit(Receiveable) and crediting Interest Accrued on Fixed Deposit (Income Account).

21 August 2010 at first
fixed depoosit............dr
to , bank

at the year end
fixed deposit...........dr
to int on fixed deposit
adv tax tds..........dr
to, fixed deposit




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