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Indian version of NAV - TDS Calculation
TBala
Member Posts: 2
Hello,
I have run into a problem as mentioned below:
Client is maintaining LCY in a currency other than INR. Raising a Purchase Invoice in USD for 4000. Calculating TDS for this. When viewed in statistics, the amounts are correctly displayed.
After posting, the TDS entry is getting nullified (There is a debit and credit TDS entry posted to TDS Payable a/c for the same amount). The vendor and Expense a/c is getting credited with full amount.
Example: Invoice for USD 4000
Actual entries posted:
Expense dr - 4000
TDS dr - 200
TDS cr - 200
Vendor cr - 4000
Entry that should have been posted:
Expense dr - 4000
TDS cr - 200
Vendor cr - 3800
Any idea on how this is coming about?
Thnx
I have run into a problem as mentioned below:
Client is maintaining LCY in a currency other than INR. Raising a Purchase Invoice in USD for 4000. Calculating TDS for this. When viewed in statistics, the amounts are correctly displayed.
After posting, the TDS entry is getting nullified (There is a debit and credit TDS entry posted to TDS Payable a/c for the same amount). The vendor and Expense a/c is getting credited with full amount.
Example: Invoice for USD 4000
Actual entries posted:
Expense dr - 4000
TDS dr - 200
TDS cr - 200
Vendor cr - 4000
Entry that should have been posted:
Expense dr - 4000
TDS cr - 200
Vendor cr - 3800
Any idea on how this is coming about?
Thnx
0