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    Joann5679's Avatar
    Joann5679 Posts: 1, Reputation: 1
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    #1

    Jun 12, 2012, 09:39 PM
    Fixed deposit entry for the interest?
    I made a placement and would like to make an entry for the interest received portion. Advice on the appropriate entry for this. The placement was done by cash. Need to know where should I put the interest received column in accounting software-assets ?

    Please advice the correct entry to be done
    paraclete's Avatar
    paraclete Posts: 2,705, Reputation: 172
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    #2

    Jun 12, 2012, 10:34 PM
    Quote Originally Posted by Joann5679 View Post
    i made a placement and would like to make an entry for the interest received portion. Advice on the appropriate entry for this. the placement was done by cash. Need to know where should i put the interest received column in accounting software-assets ?

    please advice the correct entry to be done
    I don't understand your question. What software are you using to record your transaction.
    Usually cash payments are made in the cash payments journal or similar. Interest received is income or other income

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