how to pass entry in tally for Interest received on sweep credited to saving a/c? In what group it should be come
- 1 Answers
- 11229 Views
- I also Faced
- E-Mail Answers
Answer / Khursheed Alam
In Tally ERP 9, you can record interest received on a sweep account credited to a savings account as follows:
1. Navigate to 'Bank Reconciliation' and select the relevant bank account (sweep account).
2. Click 'Post Interest' to open the Interest Register.
3. Enter details like Interest Amount, Bank Account, Head of Account (e.g., 'Interest Income - Savings Account'), Party (savings account holder), and period.
4. Save and close the Interest Register. The entry will be posted under 'Income' in the General Ledger.
5. Cross-verify the entry by navigating to 'General Ledger' and checking the corresponding journal entries.
| Is This Answer Correct ? | 0 Yes | 0 No |
We may get profit or loss from business. If so we can name the statement as Profit or Loss account. But since a long time we are naming it as Profit and Loss account. Why?
What is Debit Note & Credit Note?
What is the three golden rules in Accounts ?
explain vat breifly
what is credit card and what is debit card
how to make contra entry in sap fico.?
List of Indian accounting standards and international financial reporting standards
Difference Between LBO and MBO?
please tell me when co. owner invest money in his family members bank a/c. not any transaction came in business can we do this bank statement in tally ?
what is the realtime work and process on provident fund(pf) as accountant?
Equipment A has a cost of Rs.75,000 and net cash flow of Rs.20000 per year for six years. A substitute equipment B would cost Rs.50,000 and generate net cash flow of Rs.14,000 per year for six years. The required rate of return of both equipments is 11 per cent. Calculate the IRR and NPV for the equipments. Which equipment should be accepted and why
what is the difference between profit and revenue?
Audit 
