tell me all FD entries
fd created,fd matured, fd renewal etc
FD CREATED :
Prepare a Ledger as "FIXED DEPOSIT A/c No: XXXX - Under Deposits/ Current Asset"
Deposit Entry in Payment :
Dr. Fixed Deposit A/c - Rs. XXXXX
Cr. Bank A/c - Rs. XXXXX
(Being Deposit New FD account from xxxx to xxxx)
Journal for Interest :
Dr. Fixed Deposit A/c - Rs. XXX
Cr. Interest on Fixed Deposit - Rs. XXX
(Interest on Fixed Deposit under "Income Head")
Receipts :
If total matured amount
Cr. Fixed Asset A/c - Rs. XXXXXX
Dr. Bank A/c - Rs. XXXXXX
(Being Received FD account closure proceeds and amount to Bank)
If only received Interest :
Cr. Fixed Asset A/c - Rs. XXX
Dr. Bank A/c - Rs. XXX
(Being Interest received on FD)
CAclubindia
