Wrong entry: cst instead of tds.
This query is : Resolved
11 November 2014
Dear experts & my friends,
Am little bit confused as an entry we had passed recently in SAP is:-
Exp a/c ---- Dr.
TDS a/c ---- Dr. (It shud'v been CST a/c)
To, Vendor a/c
The problem is the TDS a/c wrongly operated instead of CST, & Net of this TDS amount had already been paid. Means overall TDS has short paid.
Now in SAP I can not simply operate FBRA to cancel the TDS voucher which has cleared with Bank GL, bcz the amount is an accumulated amount consists of entire amount of the month across the all team, cancellation will result all TDS amt operated for the month in open item.
In a fix what to do..???
Am little bit confused as an entry we had passed recently in SAP is:-
Exp a/c ---- Dr.
TDS a/c ---- Dr. (It shud'v been CST a/c)
To, Vendor a/c
The problem is the TDS a/c wrongly operated instead of CST, & Net of this TDS amount had already been paid. Means overall TDS has short paid.
Now in SAP I can not simply operate FBRA to cancel the TDS voucher which has cleared with Bank GL, bcz the amount is an accumulated amount consists of entire amount of the month across the all team, cancellation will result all TDS amt operated for the month in open item.
In a fix what to do..???
11 November 2014
Go by MATERIALITY concept. If it is immaterial, ignore. If the amount is material, accept the mistake and rectify the every thing.
11 November 2014
Dear Amol,
Rectify everything..??? The TDS payment is linked to TDS of other teams also. That is my problem. & payment already made. How to rectify it?? any other solution?
Rectify everything..??? The TDS payment is linked to TDS of other teams also. That is my problem. & payment already made. How to rectify it?? any other solution?
11 November 2014
Is the amount MATERIAL?
15 November 2014
Yes Amol, It is material.
17 November 2014
Rectify it. No matter how long it takes.
24 November 2014
Yeah am ready to rectify it, but in a fix how to do it. shall I pass another entry & then knock off or something else??? how it will reflect in 26Q, that is also knocking my mind!!
Please advise.
Please advise.
24 November 2014
26Q. Is it generated through your SAP? If yes, you need to contact tech help expert of SAP.
24 November 2014
No no.. it not generated through SAP. but I am thinking how my reversal entry could affect TDS return..
Anyway, i need to fix the issue first then will think of its effect in other areas.
Advise is welcome
Anyway, i need to fix the issue first then will think of its effect in other areas.
Advise is welcome
24 November 2014
The you can file the TDS return which is independent of your rectification in SYSTEM. What is required to be produced at the time of hearing of TDS case are the details and NOT the enries in SAP.The details can be prepared in say EXCEL, word whichever is convenient to you.
25 November 2014
As TDS a/c was debited initially The same amount is also got less paid while we paid the TDS liab of the last month. If subsequent payment arises,it will attract interest.
That's why I am thinking to pay before the return by once again crediting the TDS a/c.
Guide me Amol if I wrong..
Others views are also welcome!!!
That's why I am thinking to pay before the return by once again crediting the TDS a/c.
Guide me Amol if I wrong..
Others views are also welcome!!!
25 November 2014
That is ok. (But you said TDS payment is linked to TDS of other team. How are you going to close your eyes on that?)
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