How to apply prepayment with TDS

[Number13]

Dear All,

I created one prepayment and applied TDS and then made Payment to prepayment along with TDS Credit Memo and TDS Invoice for Income Tax Authority for TDS. Now after few days created standard invoice for the same supplier and applied TDS. Now how to apply Prepayment to supplier as system is not allowing me to apply prepayment to the invoice when I am selecting both Standard Invoice and TDS Credit Memo. System is letting me apply prepayment only on the invoice without TDS Credit Memo and here full prepayment amount is being applied. I mean without deducting TDS amount which was deducted while making payment to prepayment.

Now I need to know what to do with the TDS invoice for Income Tax Authority generated with Standard Invoice of the Supplier as the here the TDS amount which will be being paid to Income Tax Authority is deducting the TDS amount which has been already paid by paying the TDS invoice for Income Tax Authority generated along with the Prepayment Invoice.

Pleas help me. I really need to know how to resolve this issue.


Thanks and Regards,

Satya

[vanisri_mayya]

Hi,

which version of apps you are using?

Is the TDS calculation automatic or manual?

Regards,
Vanisri

[siva sankar]

Hi,

Prepayment:

First enter the Prepayment invoice with tax id.

Validate the invoice,Approve and Create accounting.

While validation the prepayment invoice TDS & credit Memo will generated in the system.

Credit memo: For credit memo will be generate against to the Vendor.
TDS Invoice: For TDS invoice(Standard Invoice) will be generate against to the Income Tax Authorities.

Here you can validate, approve and create accounting the Credit memo invoice. Then make the payment.

Prepayment Apply :
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1.Create the STD invoice with same tax id (i.e Prepayment invoice tax id).
2. Validate the STD Invoice.

3. Here you can apply the prepayment to the STD Invoice.

Now you can observe RTN Will be generate ( See the view output).

4. System will ask " Needs revalidation"

5. Again validate, Approve and create accounting.


Prepayment Un-apply:
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When ever you want to un apply the prepayment against to the STD invoice. Click on Un apply option to un apply the prepayment. Now you can observe the same in invoice distributions screen.

While un application of the prepayment, you can observe the same in invoice workbech and view out also (CAN invoice will be generate against to the RTN invoices.

If you are not able to apply the prepayment, then you need to check the Prepayment type in invoice work bench( it should be Temporary) otherwise, it won't appear in the prepayment invoices.

I hope this may help you. if any queries, Please let me know.

Thanks & Regards,

Siva