Process to pass Interest Receive Entry
How to Pass Interest Receive Entry in SwilERP (RetailGraph)
When the actual interest payment is received, the entry is a debit to the bank account and a credit to the interest receivable account. Through this article, we will explain to our clients how they can pass interest receivable entries in the SwilERP feature. To know the process, follows the below-given process:
Firstly, start with the SwilERP dashboard to initiate the process:
- Go to Accounts menu> Receipts Voucher.
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- A new window of Receipt Vouchers will appear on the next slide.
Process to pass Interest Receive Entry:
- The process to do Debit entry:
- Select the Account name as "Bank Accounts."
- Enter the amount in the Debit column.
- The process to do Credit entry:
- Select the Account name as "Interest Received" from the drop-down list.
- The Credit amount will automatically be filled in dialog box.
- If a user wants to give a narration of a particular entry, enter it in the Narration column.
- Save the window with the given option.
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