We ABC service center charged for service Rs.1,00,000 to customer. The customer deducted tds @ 10% Rs.10,000 and paid only Rs.90,000 to us by Rtgs. How to pass correct journal to this. Please guide us.
2 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14811 Points)
Replied 25 November 2021
Sales Booking entry
Customer A/c Dr 100000/-
To Sales. A/c Cr 100000/-
( chargers for services provided )
when you receive payment
Bank A/c Dr 90000/-
TDS on services A/c Dr 10000/-
To Customer A/c Cr 100000/-
( Being payment received after deduction of TDS through RTGS )
Note- TDS on services A/c will under Advance Asset side Balance sheet
Customer A/c Dr 100000/-
To Sales. A/c Cr 100000/-
( chargers for services provided )
when you receive payment
Bank A/c Dr 90000/-
TDS on services A/c Dr 10000/-
To Customer A/c Cr 100000/-
( Being payment received after deduction of TDS through RTGS )
Note- TDS on services A/c will under Advance Asset side Balance sheet
prasad Nilugal
( GST Practitioner & Accounts )
(14811 Points)
Replied 25 November 2021
Above entries are in the books of ABC service Center
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