According to me Prabhakar's Solution is 100% Perfect.
| | | ---------------Original Message---------------
From: pyprabha y
Sent: Monday, August 01, 2011 10:00 AM
Subject: TDS is getting calculated twice @ the time of invoice & payment.
Hello FICO-FRIEND,
What you are explained is absolutely true.
Steps:
1. posting advance payment 1000 @2% tds system will deduct the tds 20
2. posting invoice for 10000 @2% tds system will deduct the tds 200
But totally put together it should 200 because the total invoice amount is
only 200 but not 220(20+200).
System is always right provided should know to use it properly.
Once you finished the above two steps need to clear the advance payment with
invoice at that time system reverse the tds 20 entry which you deducted at
advance payment posting.
Then you will have only one tds entry when invoice is generated for
2000@tds2% 200 only.
Note:
For this we have to do small config change.
Path-Financial a/cing-- Financial Accounting Global Settings-- Withholding
Tax-- Extended Withholding Tax-Calculation-- Withholding Tax Type-- Define
Withholding Tax Type for Payment Posting
Then select your tax type and activate the radio button *Cent.inv.prop*.
Hope you will try in Quality and experience how the system is behaving. Hope it will
work.
Thanks
prabhakar. |
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