6. TDS accounting entry
When vendor invoice is created,
Accrual A/C - Dr
Liability A/C - Cr
TDS payable A/C - Cr
When vendor invoice is paid,
Liability A/C - Dr
Bank/Cash A/C - Cr
When vendor invoice is validated, system will also create TDS invoice for TDS Authority.
For TDS Invoice,
TDS Payable A/C - Dr
TDS Liability A/C - Cr
When TDS Invoice is paid,
TDS Liability A/C - Dr
Bank/Cash A/C - Cr
Is This Answer Correct ? | 2 Yes | 0 No |
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