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In India, while processing a Supplier Invoice whose value is greater than 20000, the Company should deduct a percentage of value (Defined for various categories of Service) from the invoice and pay the remaining amount to the Supplier.
Untaxed Amount: 100000
Service Tax 12.36%: 12360
Total Value (Payable): 112360
At the time of validating the invoice, the Company deducts the TDS
TDS 10% on Untaxed Amount: 10% of 100000 = 10000
Original Payable Amount: 112360
(Less) TDS Amount: 10000
NET PAYABLE AMOUNT: 102360
Upon invoice validation, the following accounts should be affected.
Untaxed Amount -> Purchases Account
Tax Amount -> Tax Payable Account
TDS Amount -> TDS Payable Account
NET PAYABLE AMOUNT -> Accounts Payable Account (Sundry Creditors)
Is there a module available in Odoo to address this requirement?
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|Asked: 7/8/14, 9:01 AM|
|Seen: 1034 times|
|Last updated: 3/16/15, 8:10 AM|