Odoo is the world's easiest all-in-one management software. It includes hundreds of business apps:
CRM | e-Commerce | Accounting | Inventory | PoS | Project management | MRP | etc.
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?
About This Community
This platform is for beginners and experts willing to share their Odoo knowledge. It's not a forum to discuss ideas, but a knowledge base of questions and their answers.Register
Odoo Training Center
Access to our E-learning platform and experience all Odoo Apps through learning videos, exercises and Quizz.Test it now
|Asked: 7/8/14, 9:01 AM|
|Seen: 1127 times|
|Last updated: 3/16/15, 8:10 AM|