Term Deposit Journal Entries

The term deposit journal entries below act as a quick reference, and set out the most commonly encountered situations when dealing with the double entry posting of term or fixed deposits.

In each case the term deposit journal entries show the debit and credit account together with a brief narrative. For a fuller explanation of journal entries, view our examples section.

Typical Term Deposit Journal Entries


Cash transfer to term deposit account
Account Debit Credit
Term deposit account XXX
Cash XXX

 

 


Interest income on term deposit accrued
Account Debit Credit
Accrued income XXX
Interest income XXX

Interest income on term deposit received
Account Debit Credit
Term deposit XXX
Accrued income XXX

Maturity of term deposit
Account Debit Credit
Cash XXX
Term deposit account XXX

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