Deposit Company Article For Free

What are the types of deposits? Savings Account. An interest-bearing deposit account kept at a bank is a savings account.Current Account.Fixed Deposits (FDs)Cumulative FDs.Non-cumulative FDs.Recurring Deposits (RDs)

A company deposit or a company fixed deposit aims at providing interest higher than a bank fixed deposit. Let us learn more about it. Like a bank fixed deposit, a company fixed deposit is a deposit with a company, typically a non-banking finance company (NBFC) at a fixed rate of return over a fixed tenure.

It follows the accounting principle; the deposit is a current liability that is debited and sales revenue credited. A customer deposit could also be the amount of money deposited in a bank. Since there are no cash earnings, the money is debit to the bank and credit to the customer's deposit account.

Fixed deposit that is for a term of one year is termed as current asset, while fixed deposit having a term of more than one year is non-current asset. Also read: Intangible Assets.

Deposit is a term used to denote the money kept or held in any bank account, especially to accumulate interest. Deposit also refers to a sum of money used as a security for the delivery of products or making use of services. Demand and time are the two types of deposits made by businesses or individuals.

Deposits is a current liability account in the general ledger, in which is stored the amount of funds paid by customers in advance of a product or service delivery. These funds are essentially down payments.

Types of Deposits Savings Bank Account. Current Deposit Account. Fixed Deposit Account. Recurring Deposit Account.