Overview
Account TDS Deduction Account TDS Deduction Account TDS Deduction allows you to make TDS deduction on Bills and Payments. Provides Alerts on the basis of thresholds set on Chart of Accounts. Configuration can be completed in just few steps.
Supports v 16.0 — available directly on the Odoo Apps Store.
Description
Account TDS Deduction
Account TDS Deduction
Account TDS Deduction allows you to make TDS deduction on Bills and Payments. Provides Alerts on the basis of thresholds set on Chart of Accounts. Configuration can be completed in just few steps.
Key Features
Setup TDS Deduction control
on the Chart of Account level.Set a threshold
for Individual and Aggregated Transactions for the alert on Bill Page.Configure more than one TDS setup
for each expense account, If it requires.Reuse the alert
for your custom need, Since it was giving the nice alert with summary of the amount on posting.Set the Start date and End Date
for calculating the TDS amount for the particular period in the Accounting Settings.Automatic Alert and Logging TDS summary in the Chatter Log
While posting the Bill if the Bill individual or aggregated sum exceeds the threshold.TDS Entry Creation Provision on Bill
After confirming the Bill it shows the TDS Button by default.TDS Entry Creation Provision on Payment
After confirming the Payment it shows the TDS Button by default.Auto Reconcile
After creation and confirmation of TDS Entry, It reconciles with Bill automatically. While creating it from Bills Page.
How it works
Install the Account TDS Deduction Module
After module installation a new fields will be added in the Accounting Settings, Please provide the TDS journal, TDS witholding account, Start Date and End date: Go to the Accounting -> Configuration -> TDS Configuration
Open and create the TDS Configuration Records, TDS Slabs to deduct the TDS
Create the relavant tax in the TAX master and link the Created TDS Slabs as per shown in the image. Note percentage in the tax master should be in negative
New field added in the vendor master in the name of PAN Card No, It will be used to calculate the aggregated amount across the all vendors who is having the same PAN No
Go to the Chart of Accounts Open the Account and do the TDS setup for which TDS deduction is required
Create the Bill and select the account in the line level, Based on the selected accounting tds configuration on confirming the bill it triggers the alert. In the same time it logs the message in the chatter log. That says which tds is applied and what was the configuration for Individual and Aggregated also what is the aggregated Total amount by Vendor PAN level.
Alert message tells the TDS section to be deducted, Click the TDS button then new wizard will open enter the details and click confirm to deduct the TDS
TDS Entry was created and reconciled with Bill
TDS Entry Reconciled with Bill
Add TDS Button is provided in the Payment Page
Select the TDS Section and Enter the Base amount and Confirm
Created TDS Entry
Contact me for Support, Customization, Implementation
Email: subashmca2017@gmail.com
Telegram: https://t.me/Chubbu007
