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Excess TDS deduction
In AP TDS process... In case of excess deduction of TDS we pass entries in Oracle ERP where the vendor a/c stands in positive. My question is whether this means that the vendor needs to be paid this extra amount along with the standard invoice amount. Please help.
Replies (1)
If your ERP shows a positive balance, you have likely miscalculated the TDS or the payment application. You are not meant to pay the "extra amount" as additional compensation; rather, you should reconcile the entry so the vendor receives exactly the net amount due (Gross Invoice - Correct TDS). You should consult with your senior accountant or supervisor to reverse the erroneous entry and re-process it correctly in your ERP system.
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