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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.
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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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