How to pass the Trans (Customer Pay + Service Tax- TDS)

srinivas.chittem

Hi All,

Anybody have idea on the following Issue. I have a query Customer Advance Payment including taxes.

Customer is paying Advance amount includes Service tax and deduct TDS. See the following. For e.g.,

Rent : 1,00,000
+ST : 10,300 (10.3%)

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110,300
-TDS : 10,000 (On Base Value)

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Net Pay: 1,00,300

So customer is giving advance 1,00,300. How can I Pass this transaction in 2009 SP1. Later how Invoice look likes.

Share your ideas

chengalasettyvsrao

a) You need to pass the Advance Payment entry with sevice tax from Bank /Cash receipt voucher and place a check mark in the field TDS Certificate receivable.
b) Create a new G/L account Called " TDS Deducted By Customer "
c) Pass a manual TDS entry to the New G/L account for the deducted TDS amount.
d) When you receive the TDS certificate from customer , then use the functionality Update TDS Certificate Details.

I suggest you to pass the transactions in the Test database.