Verifying TDS Amount
Verifying TDS is essential for organizations that handle a high volume of vendor transactions. Over time, as vendor bills are created, edited, or deleted, the accumulated TDS can become inaccurate. This may happen due to complex rules such as vendor exemptions or frequent bill changes, leading to discrepancies between your records and amount payable.
The Verify TDS Amount page helps solve these problems by enabling administrators to review, compare, and correct TDS calculations. On this page, the SuiteApp lets you search for vendor bills by subsidiary, vendor, period, and section code. The SuiteApp automatically calculates the exact TDS that should have been collected for your selected bills. It compares this amount with the current accumulated tax amount in NetSuite, so you can easily spot any differences.
This feature is especially helpful before you pay TDS to the tax authority, after you’ve made several changes to vendor bills, or during your regular financial closing and audits.
When you verify TDS, you can be sure your TDS records are accurate and compliant, so you don’t risk overpaying or underpaying.
Verifying Accumulated TDS
Employees with the Administrator and Accounting Center roles can access the Verify TDS Amount page. However, only users with the Administrator role can update bills to correct the accumulated TDS.
To verify TDS, enter your search criteria (such as subsidiary, vendor, section code, and period) on the Verify TDS Amount page. The SuiteApp retrieves all relevant vendor bills and performs a virtual TDS calculation, without changing any records yet. The calculated (exact) TDS and the accumulated TDS are displayed side by side for comparison.
If the two amounts match, no further action is needed. If there’s a difference, you can update to correct the accumulated TDS. Updating deletes related TDS journals and tax buckets, recalculates TDS for all bills, and creates a new, accurate tax bucket. Every step is logged including user details, operations, and timestamps so you always have a complete audit trail for compliance and review.
Don’t create, edit, or delete any bills that match the exact combination of subsidiary, vendor, section code, and period selected during an update. Wait until the update is complete before starting another one.
To verify TDS and update bills:
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Go to Setup > India Localization > Verify TDS Amount.
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Enter values in the following fields:
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Subsidiary – Only active India subsidiaries are listed.
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Vendors – Lists all active vendors for the subsidiary.
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Period – Lists all active fiscal calendars for the subsidiary.
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Section Code – Lists all active TDS section codes.
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Click Search.
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The Correct TDS subtab shows the correct accumulated tax amount.
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The All Bills subtab lists all bills matching your search criteria.
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Click Update.