In our daily accounting, we do lot of accrual expenses i.e.rent, salary etc.. How do we do it in AccountingGuru? AccountingGuru made it so easy. Let us see how we do a rent expense in AccountingGuru.
Go to Accounting -> Expenses -> New Accrual Expense
The following screen appears when you do the above
Just feed in the following
- Date
- Due date
- Comments (Mandatory)
- Expense type (i.e.Rent)
- Amount
- To -> whom you are paying
Click on “Create”
When it is created successfully, it says “Created Accrual expense successfully”
When we
make a payment of Rent, salary etc.. we deduct 10% of TDS from the actual rent and
pay the balance to the Owner or Employee.
In this case, Rent is Rs.10000.00 and the TDS amount would be 10% of
the rent is Rs.1000.00. Let us see how do we do it in AccountingGuru.
Click on “New Tds Payable”
When you click on “New Tds Payable” the below screen appears
- Select the date
- Select the Recipient (Company
or Non-company)
- Section
- Below are the few important TDS section codes for your easy set up of TDS sections
Section
|
Nature of Payment
|
Code
|
||
192
|
Payment
to Govt. Employees other than Union Government Employees
|
9
|
2
|
A
|
192
|
Payment
of Employees other that Govt.Employees
|
9
|
2
|
B
|
193
|
Interest
on Securities
|
1
|
9
|
3
|
194
|
Dividend
|
1
|
9
|
4
|
194A
|
Interest
other than interest on securities
|
9
|
4
|
A
|
194C
|
Payment
of contractors and sub-contractors
|
9
|
4
|
C
|
194EE
|
Payments
in respect of Deposits under National Savings Scheme
|
4
|
E
|
E
|
194F
|
Payments
on account of Re-purchase of Units by Mutual Funds or UTI
|
9
|
4
|
F
|
194H
|
Commission
on Brokerage
|
9
|
4
|
H
|
194I
|
Rent
|
9
|
4
|
I
|
194J
|
Fees
for Professional or Technical Services
|
9
|
4
|
J
|
194LA
|
Payment
of Compensation on acquisition of certain immovable property
|
9
|
4
|
L
|
195
|
Other sums
payable to a non-resident
|
1
|
9
|
5
|
To
create a TDS section Click on “Create New TDS Section” as shown below
When
you click on “Create New TDS Section”, a
pop-up window opens. Feed in the Section
as shown below and click on “Create”
New TDS section is created.
Ø
Type
in your comments and ref no.
Ø
Click
on the check box to select it.
Ø
Feed
in the %. TDS is 10%. When you feed in the percentage, it
automatically calculates the actual amount of TDS
Ø Click on “Approve”
On successful creation, the follow screen appears and says “TDS payable created successfully”
Click on
“ Back to Accrual Expenses ”
The below screen appears
When you want to make the payment, click on “Make Payment”
The below screen appears.
Ø Select the date
Ø Payment Mode
Ø Transaction number if you have anything
Ø Comments i.e, cheque number, bank name etc…
Ø Confirm the check box is selected
Ø Click on “Create”
On Successful creation, below screen appears and says “ Payment created successfully”
If there is any modification to be done, Click on “ Modify ”. After doing the changes click on “ Update ”
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