How do I track TDS of an invoice on the invoice date instead of the payment date in Zoho Books?
By default, the TDS deducted is tracked the payment date of the invoice. However, if you prefer to track TDS on the date the invoice was recorded, you can:
Edit the Invoice
You can edit the invoice and enter the TDS amount deducted in the TDS field. Once the customer makes the payment, you can record it against the invoice.
Warning:
You can perform this action only if your invoice isn’t pushed for e-Invoicing.
Record Two Separate Payments
You can record two different payments, where one payment tracks TDS on the date the invoice was created, and another payments to track the actual payment received for the invoice.
To record payment for the TDS deducted:
Go to Sales on the left sidebar and select Invoices.
Select the invoice for which you want to record payment for the TDS deducted.
Click Record Payment at the top of the Details page.
In the Payment page, fill in the following fields:
- Amount Received: Enter the amount as 0 as you’re recording payment only for TDS.
- Tax deducted?: Choose Yes, TDS (Income Tax).
- Amount Withheld: Enter the TDS amount deducted.
- Payment Date: Select the date on which the invoice was created.
- Enter the other required details and click Record Payment.
The payment will be recorded for the TDS deducted for the respective invoice. Next, you can record payment for the invoice, excluding the TDS amount.
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