Here is a typical Cash Bank transaction: We have paid Rs 20,000.00 to XYZ company for Repair & maintenance work, deducting TDS. The total invoice amount was Rs 22,000.00 and TDS amount is Rs. 2000.00. The amount is paid through say, HSBC bank and Cheque number is say, 12345 . What we did in Navision is as follows: Debited Rs. 22000.00 for Repair & maintenance account, with balancing account as account for HSBC,cheque number etc. In the next line we repeat the document number, posting date, cheque number and date and then credited Rs 2000 for TDS account, giving balancing account as previous one. We posted the transaction. In GL Entry table we got in all 6 entries for this transaction. In Bank ledger, there are 2 entries, Rs 22000 as debit and Rs 2000 as credit. In Cheque Ledger Entry there is only one entry, that is for Rs 22000. Credit amount is not considered. Since document number is same, it is obvious that a single cheque has been paid to party with amount Rs 20000. But cheque ledger entry is misleading. We know that if we entered the above 3 transactions without balancing account and then entered another row for bank transaction, cheque ledger entry would have been correct. But it is general practice not to enter bank entry in separate. We would also prefer to have 4 entries in all in GL entries instead of 6 entries, keeping one entry for bank. Could anyone throw light on this problem?
Hello, You can solve this problem by making only one line entry,select TDS related fields also.(on the same line).for printing proper amount of check i.e. amount deducting TDS amount,you have to make changes to report 1401, as well to Preview check form. hope this will solve your problem. line entry wd be something like this (TDS setups should be in place before) acc.type:=GL no.:=Repair & maintenance tds party type:= tds party := tds assessee code= Nature of deduction…:= Amount:=22000 Regards, Rajesh
Hi When you posted the second line did you select Bank Payment Type as Manual or Computer cheque. If you did not then the entry would only go through as a Bank Ledger Entry and not a Cheque Ledger Entry as well. If posting as a manual cheque you could have just created one balancing line for the bank. Cheers Peter