TDS Receivable Entry in Books of accounts

A/c entries 129 views 2 replies

Hi Sir

Can i make TDS Recivable entry at the time of making Sales entry or at the time of receipt entry

Please advise 

Also request you to advise TCS Payble entry if there is a sale of Rs. 5,00,000

 

Thanks in advance

Replies (2)

Sales entry when TDS

Sundry receivables      Ac dr

TDS Receivables.         Ac dt

To  sales

Sales entry when TCS

Sundry receivables.   

To  TCS payable

To.    Sales

You can make TDS receivable entry on the date of sale or as on invoice date. 


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