Respected All Professional Members,
I've a question on SAP reporting which is as follows:-
Suppose a party raised rent bill of Rs. 2000/- for a month. At the time of entry, we are deducting TDS @ 10% and balance payment made through cheque from bank. In that case, entry will be following.
1) Rent A/c. Dr. 2000/-
To Party A/c. 2000/-
2) Party A/c. Dr. 200/-
to TDS A/c. 200/-
3) Party A/c. Dr. 1800/-
To Bank.
So, after the above entry, Party ledger will be shows as follows:-
In Debit Side of the Party Ledger there will be two A/c. 1) TDS - Rs. 200/-
2) Bank - Rs. 1800/-
In Credit Side of the Party Ledger there will be the Rent Bill Amount - Rs. 2000/- after which the closing balance will be zero.
The above is normal accounting practiece, but in SAP B1 module, only Rent Bill Amount - Rs. 2000/- & Payment Entry Rs. 1800/- reflected. The TDS entry Rs. 200/- is not reflected in Party Ledger, it is only reflected in TDS Ledger. In this case, when we print out the party ledger, Rs. 200/- is diiference is coming. Is this acceptable????.
Please suggest and advise.
Best Regards,
Bivas Nag
B.Com, PGDBA (Fin), MBA (Fin.) & Dip. C.Excise & Customs
CAclubindia
