TDS – Create Remittance with the Posting Date

By | August 29, 2024

In our Previous blog about creating remittance, we have understood the working and purpose of it in the TDS addon Sage 300 ERP.

Earlier TDS was deducted on the current fiscal year and only on the document date. But on the client’s request, we have added the TDS Deduction on the Posting Date of the transaction. Let’s see the configuration and how it works.

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To Deduct TDS of AP transactions user needs to select Posting Date radio button in the D/T Options screen →Procession Tab. Refer to the below screenshot.

Fig. 1 D/T Option Screen with posting date

After changing to the above configuration. User need to go to the create remittance screen and depending on the section and using the deduction date filter user can fetch the AP transactions from which the Remittance has to be deducted. Earlier only document dates were fetching in the transactions details but now with this modification user can fetch the posting date details in the deduction column of the create remittance details grid. Check the below image

Fig1.2 Create Remittance Screen with Deduction date (Posting Date)

The TDS will be deducted when the user posts a TDS-AP Invoice or payment entry from the AP module by creating an adjustment against it. However, to have the remittance effect, the user must post the corresponding entry from the Create Remittance Screen by choosing “Yes” in the grid’s Remit TDS column. Once the remittance is created, the entries will be ready for the payment process with posting date details. Check out the image below.

Fig 1.3 Create Remittance screen with selected entries for remittance

Fig1.4 Remittance entry screen

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