How to: Pay Tax Using Payment Journals
Tax Deducted at Source (TDS) on various transactions must be paid to the government. This can be performed by using a payment journal. For more information, see Payment Journal Window.
The following procedure describes how to pay TDS using a payment journal, but the same steps also apply to paying Tax Collected at Source (TCS) using a payment journal. For more information, see How to: Set Up Tax Deducted at Source and How to: Set Up Tax Collected at Source.
To pay tax deducted at source using a payment journal
In the Search box, enter Payment Journals, and then choose the related link.
Fill in the required fields as described in the following table.
Field Description Batch Name
Specify BANK to indicate the name of the journal batch.
Posting Date
The posting date for the entry.
Document Type
The document type on the journal line.
Document No.
The document number for the journal line.
External Document No.
The document number of the customer or vendor.
Party Type
The type of party.
Party Code
The party number for the relevant party type.
T.A.N. No.
The tax account number code.
TDS Nature of Deduction
The tax deducted at source nature of deduction code.
Amount
The total amount of the journal line.
Bal. Account Type
The balancing account type.
Bal. Account No.
The account number to which a balancing entry for the journal line will be posted.
Tip
If the column is not visible, open the shortcut menu for the column headings, and then choose Choose Columns to add it.
On the Navigate tab, in the Payments group, choose Tax Payments, and then choose TDS.
In the Pay TDS window, select the entries to pay TDS, and then choose Pay.
Note
The selected entries will be transferred to the general journal.
On the Actions tab, in the Posting group, choose Post.
Choose the OK button.
See Also
Tasks
How to: Set Up Tax Collected at Source
How to: Set Up Tax Deducted at Source
How to: Post Tax Deducted at Source
How to: Post Tax Collected at Source