{"id":6935,"date":"2024-11-29T04:49:58","date_gmt":"2024-11-29T04:49:58","guid":{"rendered":"https:\/\/www.greytrix.com\/blogs\/sageintacct\/?p=6935"},"modified":"2025-04-23T05:36:37","modified_gmt":"2025-04-23T05:36:37","slug":"tds-deduction-process-on-accounts-payable-bills","status":"publish","type":"post","link":"https:\/\/www.greytrix.com\/blogs\/sageintacct\/2024\/11\/29\/tds-deduction-process-on-accounts-payable-bills\/","title":{"rendered":"TDS Deduction Process on Accounts Payable Bills"},"content":{"rendered":"\n

Sage Intacct has introduced a new application Tax Deducted at Source (TDS). TDS is an essential part of the tax system that guarantees revenue collection and compliance. It is a system that deducts a predetermined percentage of taxes from payments for a variety of transactions, including interest and salary. In previous blog we have explored the setup screens utilized for configuring TDS Entries. Now let us study TDS deduction mechanism in our Sage Intacct ERP<\/a>.<\/p>\n\n\n\n

New Stuff<\/strong><\/em>:-<\/strong> GL Voucher in Sage Intacct<\/a><\/p>\n\n\n\n

Let us navigate to Accounts Payable \uf0e0 Bills UI<\/p>\n\n\n\n

Proceed with below Steps for the deduction process<\/p>\n\n\n\n

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  1. Choose the vendor listed in the TDS Party Details from the Vendor field.<\/li>\n\n\n\n
  2. Enter a Bill Number.<\/li>\n\n\n\n
  3. In the Entries Section, select an Account & enter Transaction Amount for E.g., INR 10,000<\/li>\n<\/ol>\n\n\n\n

    <\/p>\n\n\n\n

    \"AP<\/a><\/center>\n
    Fig1: AP Bill screen<\/center><\/font>\n\n\n\n

    <\/p>\n\n\n\n

    4. Go to TDS Tab.<\/p>\n\n\n\n

    <\/p>\n\n\n\n

    \"TDS<\/a><\/center>\n
    Fig2: TDS tab on AP Bill screen<\/center><\/font>\n\n\n\n

    <\/p>\n\n\n\n