Banking
Fixed Deposit Rollover at Maturity
A maturing fixed deposit is automatically renewed for another 12 months at the current rate.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Fixed Term Deposits (Matured) | Liability (-) | 52,000.00 | - |
| Fixed Term Deposits (New Term) | Liability (+) | - | 52,000.00 |
💡 Accountant's Note
Rollover is a common customer instruction. The matured principal plus accrued interest is reinvested. The bank records a closing of the old deposit and opening of the new one — even if the net cash movement is zero.
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