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July 17, 2021
Question

How do i record a payment done by my customer when the credited amount = Invoice amount - minus TDS

  • July 17, 2021
  • 1 reply
  • 3 views
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1 reply

Moderator
July 17, 2021

I've got you covered, @useruday.

 

You'll need to enable the TDS for the customer to record it when creating an invoice and receiving the payment. Here's how:

 

  1. Sign in to your QuickBooks Online (QBO) account.
  2. Click Sales or Invoicing from the left menu.
  3. Select the Customers tab, then select the customer for whom you want to enable TDS.
  4. In the customer information window, click on the Tax info tab.
  5. Enter the PAN number, then check the TDS Applicable checkbox.
  6. Click Save.

 

Once it's enabled, QuickBooks will automatically deduct TDS to the invoice based on the amount you enter. Then, receive the payment as usual.

 

I'm adding this article for more details: How to set up TDS.

 

You might want to customise your invoices for GST. Here's an article you can read for more guidance: Customise invoice for GST.

 

Should you need any assistance receiving payments with TDS, I'm available here to help any time!