You can see any detail relating to State Bank of India by using SBI also. Bank Dr 1,08,000 . to Bank Entry for Interest Earned FD A/c Dr to Interest Income A/c Entry for Maturity of FD Bank/Cash Dr to FD A/c Pass Entries On 1 April 8% FD Made in ICICI Bank by transferring from ICICI Current Account Rs 100000 for 3 months On 30 June,total amount of FD including interest was received in cash View Answer Investment. I have taken new FD(fixed deposit) rs.5000 from my bank account for 3 years with 8% cumulative interest on it. To secure contract,Bank Guarantee of 40.00,000 was required. Here is the list of ledger head … ... TDS (Tax Deducted at Source) - Tally.ERP 9 Introduction TDS refers to Tax Deducted at Source . For example,before charging interest on capital a business earned for one year a net profit of 4000 and the capital at the beginning of the year was 10000.If the trader had invested this amount in government securities he would have earned (say) 8% interest per year.That is 800.As such the real business profit that is,the profit after charging normal interest on capital would be 3200. Bond. Invest in Govt. Bank Account. Example #1. font size decrease font size increase font size; ... Bank Balance. Tab down to the field Class and type a class name, for example Interest-Simple. Investment. Below are the examples of Interest Receivable Journal Entries. Bank Charges. Should i make following entries: 1) FD 5000 Dr. to Bank a/c 5000 2) FD 400 to interest on FD 400 (being inteest in FD) does i am correct? Company took this Bank Guarantee from PNB Bank of Rs 4000000 for 3 months Bank took 2 % Commission p.a. Labour Charges. Tally under group head- branch/divisions; ... Bank OD accounts is the one of the only ledger list to be created under the Bank OD account under group. In every implementation of Group wise Tally ledger list prepared first which affects Trading a/c, Profit and loss a/c and Balance sheet. ... Interest Received (Cr.) In case the interest amount is treated as Simple Interest. b) Set Yes to Use Class for Interest Accounting? Cash- in- hand; ... Commission received; Interest received; So these are the most important ledger names under different under groups in tally. Note: Alias should be avoided as far as possible. TALLY LEDGER & GROUP LIST Written by Anish Sir. ? Under ‘Name’ you can write State Bank of India and under ‘Alias’ you can write ‘SBI’. Indirect Incomes. Indirect Expenses. a) Alter the Voucher Type Debit Note. Import of Goods under GST in Tally ERP9; Sales to Unregistered Dealer in Tally ERP9; The accounting year of the X ltd. ends on December 31, 2018. The Export functionality available in Tally.ERP 9 allows the user to export data or report in any one of the standard available formats. Investment. For example, you are creating the account head of State Bank of India. TDS Receivable Dr 10,000 . Interest is calculated on Simple or Compound basis and separate classes should be used for these. Company X Ltd. a deposited sum of $ 500,000 in the bank account on December 01, 2018. Now how shoild i passed entry for this FD in tally. To Technical service charges received 1,00,000 . Indirect Expenses. Use D ebit Note for i nterest receivables and Credit Note for interest payable. To XYZ Company 1,18,000 . Create TDS Receivable Ledger in Tally.ERP9 . Bank Commission. The reports on interest amounts calculated in different ways give the interest implications, but these have not been brought into books. The same can be booked using debit or credit note with voucher class. ... To [email protected]% 9,000 . Payment From Customer . (a) Simple Interest (b) Compound Interest. and Asked for 25% Margin money in the form of a FD Interest earned on FD was 8% p.a Government Contract completed and money received from government Bank Guarantee revoked Tally ledgers creation under group of accounts is main part of Tally ERP 9 implementation. How will i make entry for interest on FD.