Hi,
My client is dealing with government securities
At the time of purchase interest upfront will be paid.
At the time of receive of Interest (SAM5000) interest will be deducted and remaining interest is profit or loss.
How to Post it?
2) I want to write off Accrued interest upfront at the time of Interest received (frequency period).
For example,
Bond Interest frequency 006
Bond issue date: 02 June 2014
Next Interest coupon date 02 Dec 2014
Purchase Amount 5 Crores on 10 Nov 2014
accrued Interest upfront paid by us = for example 10 lakhs.
i want to write off at the time of Interest received.
regards
raju