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TDS excess deduction adjustment entries in AP process
Hi, in AP TDS process... In case of excess deduction of TDS we pass entries in Oracle ERP where the vendor a/c stands in positive. My question is whether this means that the vendor needs to be paid this extra amount along with the standard invoice amount. Please help.
Replies (1)
Excess TDS deduction creates a mismatch between the invoice amount and the actual payment. You should not pay this extra amount to the vendor. Instead, reconcile the vendor account in your ERP using a credit/debit memo or a manual journal adjustment, and ensure the corrected amount is reflected in your statutory TDS filings.
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