Home » Applications » Oracle Fusion Apps & E-Business Suite » Petty Cash Payment with TDS Deduction
Petty Cash Payment with TDS Deduction [message #210067] Tue, 19 December 2006 03:38 Go to next message
hitenm
Messages: 18
Registered: November 2006
Location: Mumbai
Junior Member

Hi All,

Pls help in following real life scenario.

10000 Rs Bill by transporter. Plant gives 9800 Rs cash through Petty Cash to transporter after cutting 200 Rs as TDS.

How should this transaction be recorded in the system so that the respective TDS certi is generated.

Thanks and Regards,
Re: Petty Cash Payment with TDS Deduction [message #210100 is a reply to message #210067] Tue, 19 December 2006 06:37 Go to previous message
datsindia
Messages: 5
Registered: January 2006
Junior Member
hinetm,

1) CREATE A SUPPLIER (TRANSPORTER)
2) CREATE A STANDARD INVOICE FOR RS.0/- DEBITING 'FREIGHT CHARGES RS.200/- IN 1ST LINE AND 2ND LINE NEGATIVE DEBIT 'TDS CLEARING CHARGES' OF RS.-200/-. HENCE NET LIABILITY WILL BE RS. 0/-
3) CREATE STANDARD INVOICE TO 'INCOME TAX AUTHORITY' AND THE SITE 'TDS - ??????' FOR RS.200/- DEBTING 'TDS CLEARNING CHARGES', NOW THE ABOVE NEGATIVE DEBIT (SL.NO 2) OF RS. 200/- WILL BE KNOCKED OFF.
4) WHEN YOU MAKE THE PAYMENT TAX AUTHORITY (SL.NO 3) LIABILITY WILL BE KNOCKED OFF.
5) CERTIFICATE CANNOT GENERATE IN THIS CASE. IF YOU FIND THE SOLUTION, PLEASE INFORM.

REGARDS
HARIHARAN
Previous Topic: Oracle Financials, I am lost, Please Help me
Next Topic: Acccounting entry in Ebuy to Pay
Goto Forum:
  


Current Time: Tue Dec 24 11:50:03 CST 2024