I am doing TDS postings.
I am aware that when I make a vendor down payment TDS automatically gets deducted.
Later when I post an invoice also TDS aautomatically will be deducted.
Later when I transfer the Spl Gl to Normal account the douwn payment will be reversed along with the TDS in F-54.
How should I clear the normal Items now, what will be the entry in F-53. Please guide me.
Please find below the entries I have passed.
1) In F-48 (Down Payment) I have posted,
29A Vendor Spl Gl Acc 1,00,000 (Vendor Acc No 801902)
50 SBI Account 98,000- (Acc No 200030)
50 TDS On Contractors 2,000- (100398)
2) In F-43, I have made a purchases posting
40 Manufacturing costs 1,50,000 (Gl Acc 400200)
31 Vendor Account 1,47,000- (Vendor Acc 801902)
50 TDS on Contractors 3,000- (Acc No 100398)
3) When I make a Transfer in F-54
40 TDS on contractors 2,000 (Gl Account 100398)
26 Vendor account 98,000 (Vendor No 801902)
39a Vendor Spl Gl Acount 1,00,000- (Acc no 801902)
Please let me know what will be the entry in F-53 while I make the clearing.
Edited by: ashilpa54 on Mar 1, 2011 4:33 AM