Reverse or Refund TDS Entries in Business Central | TDS Adjustment Journal #tdsDeductedAtSource #adjustment #journal #D365BC - video Dailymotion

Freelancer Madhavi

Agenda of the Video▶️: To share the simplest way that How-To Reverse, Refund, or 100% Adjustment of Posted TDS Entries using TDS Adjustment Journal in Business Central.  ✅Hint 1: You may select Document Type = Refund. If you are passing this Entry as Refund. ✅Hint 2: Selecting another Document Type = Invoice, force you to select External Document Number (Vendor Invoice Number) field, and enter its Value in that field (column).  ✅Hint 3: After Posting the Reversal Entry, please check TDS Entries page for viewing the Result or Implication of Posting TDS Adjustment Journal. ✅Hint 4: Line 1 means Line Number 10000, Next Second Line 2, Means Line Number 20000. ▫️ Incremental Value + 10000 with every next line ✅  --------------------------------------------------------------------------- ▪️Note: You may Post Multiple Entries at a Time.

Transcript

00:00Hello friends, welcome to my channel. I am Financial Mathvi and today we are going to discuss about TDS Adjustment Journal.

00:10By using TDS Adjustment Journal, you can reverse any posted TDS entry and if its value is wrongly posted,

00:25you can adjust the value of the posted entry.

00:33To do this, open TDS Adjustment Journal.

00:38Use the search box or make a shortcut.

00:42Use the calendar to choose the posting date.

00:50The transaction number specifies the transaction number of the posted entry.

00:57Click on the three dots for the posted transaction.

01:02You will get a list here.

01:04You can filter the invoices if you want.

01:09If you have a document type option, you can filter it here.

01:15For example, I want to see only the invoices.

01:19So, I have put a filter here.

01:21Now you will see only the invoice entries.

01:24If you want to see the first entry, transaction number wise, date wise or document number wise,

01:34then you can also see the document number wise.

01:37If you have multiple lines, then you can also take multiple lines one by one.

01:42Now I will choose one of them.

01:47Either you can use this one or this one.

01:50First, we will use this one.

01:52It is showing 194 TDS section code.

01:55194JPF.

01:57It will be for professional services.

01:59So, you can click on OK.

02:04Now a message is coming.

02:06TDS Adjustment Journal must have a value in source code setup.

02:10So, if there is a miss in the source code setup,

02:13then you will get it in the source code setup.

02:25Now in the source code setup, you have to take the TDS setup.

02:31Because you will get TDS setup for all.

02:35Now the one I have defined for TDS is this one.

02:38TDS Adjustment Journal.

02:40So, you have to read this clearly.

02:42TDS Adjustment Journal is written here.

02:44And you have to click on the drop down.

02:48Review and update the value for TDS Adjustment Journal.

02:51You have to take the number series of TDS Adjustment Journal.

02:57Now I have selected TDS Adjustment Journal.

03:02Now select it.

03:05And you can re-check that what you have made is correct.

03:11I have given the number here.

03:14Now we will come back to the screen.

03:18Second line is 20,000.

03:20There is a gap of 10,000 and 10,000.

03:23In this way, you will get the first and second line in order.

03:27So, line number 10,000 is here.

03:31Now we will go to the transaction number.

03:33We have to select Posted TDS Entry to Reverse.

03:37We have to put a filter of document type.

03:39If you see the document type of the payment in this.

03:46To remove it.

03:48If we put a filter, we will see only invoice entries.

03:52Now, GL account wise, posting date wise, document number wise.

03:59You can check which line you want to take.

04:02Plus, the section of TDS.

04:05If you want to choose according to that.

04:09You can see SSC code in this.

04:11So, the base on which you are going to select the entry.

04:15Normally, it is called document number wise.

04:17In this way, you can select.

04:20Suppose, I want to reverse this entry on the basis of the second line.

04:38So, I will select and after selecting, OK.

04:41If I want to reverse two entries on the same document number.

04:47So, the second line, line number 20,000.

04:50You have to click on it and then go inside.

04:54And the second invoice.

04:56I had to select this invoice.

04:58According to TDS section code.

05:01So, TDS section code.

05:03OK.

05:05Done.

05:07So, two lines came to me.

05:10Now, what can we do?

05:12We can reverse it.

05:14So, one thing is partial reverse and the other is 100% reversal.

05:19You can check the base amount of TDS.

05:23TDS section code.

05:25This is for professional service.

05:27SSC is your company.

05:29And the rate on it was 7.5.

05:34The second category is of your contractor.

05:37Contacting services.

05:39This is for the company.

05:411.5

05:43And this 1.5 rate.

05:45Their base amount is given here.

05:47So, above 6,000, 7.5.

05:49Above 10,000, 1.5.

05:51Now, the actual value that is being made.

05:54TDS detected.

05:56You have to check this value.

05:58Above 6,000, 7.5.

06:00And above 10,000, 1.5.

06:02So, 450, 150 got.

06:05The same vendor.

06:08We are taking two types of services from him.

06:10Professional service and contacting service.

06:13You can check the name of the vendor.

06:15Colwood services.

06:17Technologies.

06:19If you want to activate the name of the vendor.

06:23Then you can do that too.

06:25After that.

06:27The GLs that were applied.

06:29Because the first one is.

06:31Professional service.

06:33For 194J.

06:35The liability laser of TDS.

06:37And the second one is.

06:40Contacting services.

06:42194C.

06:44After checking like this.

06:46The liability laser is in the balance sheet.

06:48We have checked this.

06:50Now, we have to check this column.

06:52Which you can check.

06:54Balance account type and number.

06:56First is the amount.

06:58You will get a plain amount column.

07:00Specifies the total.

07:02Of amount.

07:04Including the adjustment amount.

07:06On the adjustment journal.

07:08You will get an amount column.

07:10The value will be updated in this.

07:12But how will it be updated?

07:14For that.

07:16You will have to find.

07:18Either you deal with the percentage.

07:20Assume that you put the whole percentage.

07:22Or deal with the value.

07:24Either you can use this column.

07:26Or.

07:28This one.

07:30TDS.

07:32Base amount applied.

07:34Okay.

07:36So I will choose this.

07:38So what will happen.

07:40Your base amount will be 0.

07:42You can do either or.

07:44You have to hit backspace.

07:46Tab.

07:480.

07:50Backspace.

07:52And tab.

07:54Let's use this one.

07:56Backspace and tab.

07:580.

08:00Means.

08:02Percentage applied.

08:04Base amount applied.

08:06You can use any of the two fields.

08:08You have to make it blank.

08:10Backspace and tab.

08:12Or after backspace.

08:14Click on any other column.

08:16Or any space above or below.

08:18So what will happen.

08:20It will be blank like this.

08:22After that.

08:24We have to check the value.

08:26The amount column.

08:28Minus 450.

08:30Minus 150.

08:32It was with positive sign.

08:34So it was with minus sign.

08:36So what will happen now.

08:38Posted value.

08:40Plus.

08:42It will be with minus.

08:44Plus and minus will be zero.

08:46So it will be zero.

08:48So it will be 100% reversal.

08:50Adjustment in general.

08:52Means 100% adjustment.

08:54You won't be able to do partial adjustment.

08:56You can try and see.

08:58If you want to add value here.

09:00For example, let's try adding a partial amount here.

09:03The system will give you an error.

09:05Partial adjustment is not possible.

09:07You have to do full adjustment.

09:10That is, you have to do reversal only.

09:12So, you can check like this.

09:14Full adjustment, reversal and cancel.

09:17And after this, you have to click on the post button.

09:21If you want to check something else.

09:23If you want to check any kind of laser entries or card.

09:28Or if you want to add dimensions, you can add dimensions.

09:30And after that, you have to click on the post button.

Reverse or Refund TDS Entries in Business Central | TDS Adjustment Journal #tdsDeductedAtSource #adjustment #journal #D365BC

Category

Transcript

Recommended