TDS deducted by he customer

prathap

Hi all,

I am new to nav, It ll be of great help if u tel me how the TDS amt deducted by the customer would be treated in NAV

For eg

Invoice amt: Rs100000

TDS deducted by the customer: Rs 2000

And the receipt is RS 98000.

How to account this TDS???

Thnks

Prathap

rajatkalia

HI Prathap

u need to first do the setups for TDS like Groups, NAture of Deduction, Setups. Then define the NOD/NOC lines for the Vendor. After these setups make the Order and select the GL account and then select TDS nature of Deduction in the order lines and click Functions>>Calculate TDS

prathap

Hi,

I am asking about the Customer. TDS would be deducted by the customer after we raise the invoice, How to account the TDS deducted by the customer.

Thanks.

manickam

Hi dude ,

In our company we have an seperate TDS Receivable in chart of accounts......We a/c that amount (Rs 2000) in that ..... It'll automatically get mapped......

prathap

Pl tell me wer to map that account.. I mean the setup..

manickam

Hi ya,

Create a GL Account as TDS Receivable and allow Direct Posting it to it....

ssingla

You can track the TDS certificate receivable and the tds entry will be manual