Fixed Deposit

A Fixed Deposit (FD) is a financial instrument provided by banks which provides investors a higher rate of interest than a regular savings account, until the given maturity date. Banks issue a separate receipt for every FD because each deposit is treated as a distinct contract. This receipt is known as the Fixed Deposit Receipt (FDR).

Fixed Deposit Management Add-on simplify process of managing term deposit, time deposit, bond, recurring deposit, fixed deposit, and demand deposit etc.

FEATURES:

· Configure / Record Fixed Deposit for different Banks.

· Track Status, Maturity Date, Amount Interest, Applicable Tax of each Fixed Deposit.

· Quick view of upcoming Fixed Deposit due in X Day of Fixed Deposit. Configure upcoming alert FD Due Days.

· Quick view of upcoming Fixed Deposit due Amount of Fixed Deposit.

· Quick view of already matured Fixed Deposit.

· Quick view of already matured Fixed Deposit amount.

· Setup / Configure various FD Posting groups for financial treatment of fixed deposit for different Banks.

· Fixed Deposit registration & posting.

· Financial treatment of Accrual Interest booking and Reversing Accrual Interest at time of Actual interest realization.

· Financial treatment of Withdrawal of Matured or premature Fixed Deposit.

· Financial treatment of Tax Amount withheld (Withholding Tax / TDS).

· Option to Cancel Fixed Deposit.

. Interest Calculation Formula.

. Accrual Interest checking on Withdrawal time.

BENEFITS:

· Quick Dashboard view of Fixed Deposit Status / Upcoming & Matured Fixed Deposit.

· Financial treatment of Registration / Accrual Interest Booking / Withdrawal.

· Analysis of Fixed Deposit Ledger Entries.

· Archiving of Matured Fixed Deposit.

REPORTS:

· Fixed Deposit Register

· Fixed Deposit Document

Supported Editions

This app supports the Essential and Premium edition of Microsoft Dynamics 365 Business Central.

Supported Countries

Canada, India, United Kingdom, United States and Malaysia. Supported Languages English only.