TCS Adjustment Entries

TCS adjustment is applicable for any correction of the TCS amount, TCS rate and TCS base amount already calculated but not paid to the government authorities. Provision is available to enter the new TCS rates, new TCS amount and new TCS base amount for the TCS entry which was created against invoice or payment and not paid to the government authorities. System should recalculate TCS amount and adjustments would be made accordingly. The revised TCS amount should be updated in the relevant GL Accounts for TCS Payable and Customer Account. Existing TCS entry should be updated with revised TCS percentages, TCS amount and TCS base amount.

TCS adjustment process

  1. Choose the Search for Page or Report icon, enter TCS Adjustment Journal, and then choose the related link.

  2. Select the relevant transaction number in Transaction No. field from the drop down, and the selected line, will get populated with the posted record. Following information can be changed, in the adjustment journal as per the requirements:

    Field Name Use
    TCS % Applied Fill the revised TCS %.
    Surcharge % Applied Fill the revised Surcharge %.
    eCESS % Applied Fill the revised eCess %.
    SHE Cess % Applied Fill the revised SHE Cess %.
    TCS Base Applied Fill the revised TCS base amount.
  3. On posting of the adjustment journal G/L Entry, TCS Entry, Customer Ledger Entry and Detailed Customer Ledger Entry will be updated with the adjusted amount and revised information.

See Also

TCS Payment to Authority


Can you tell us about your documentation language preferences? Take a short survey.

The survey will take about seven minutes. No personal data is collected (privacy statement).