Company time deposit accounts should be regarded as bank deposits. It refers to a deposit method in which enterprises, institutions, organizations and other units deposit short-term idle funds in the bank, and agree with the bank in advance on the deposit period and interest rate, and withdraw the principal and interest at maturity.
Accounting treatment is as follows:
1. When the deposit term is fixed,
Debit: bank deposit-fixed account,
Loan: bank deposit-transfer account,
2. Withdrawal due,
Debit: bank deposit-deposit account,
Debit: financial expenses-interest income debit red letter,
Loan: bank deposit-fixed account.