How do I map the correct tax heads for TDS and sales incentives in BUSY?
To configure the TCS /TDS configuration should done properly in BUSY and TCS/TDS is enable in the party master.
Pls Follow the Below the Steps for TCS/TDS Calculation :
Step 1: Click on Administration
Step 2: Then Configuration
Step 3: Then Features and Options
Step 4: Enable the TDS/TCS option
Step 5: Mention the warning for TDS purachse and payment voucher as per your requirement in the bottom.
Step 6: Open the party account in modify mode
Step 7: Then in TDS/TCS window, mention the applicable limit- Applicable after limit.Then TDS will get charge if the limit get cross after 50 lakh.
Step 8: Book the TCS entry through sales voucher by adding the TCS bill sundry.When you save the voucher then tcs reference will get create and can adjust the refernce during the receipt voucher.
Step 9: When you do the TCS payment, Then DEBIT the tcs acccount and CREDIT the bank account. Adjust the tcs reference which you have created in while booking the tds entry.
To sales Incentives you need to Configure Salesmanwise reporting, Please follow steps :
Step 1: Open BUSY and select the company you want to work with. Then, go to the Administration tab and click on configuration.
Step 2: Under Configurations, select Features / Options and then click on the Accounts tab. Here, you will find the Salesman/Broker-wise Reporting option. Just click on the checkbox to turn it on.
Step 3: Set ‘Y’ on the "Specify Default Commission / Brokerage” option under the Salesman / Broker configuration tab.
Step 4: Select the option for commission from the following choices: Salesman / Broker Master, Party/Item Master, or As Specified Below.
Step 5: Now, Go back to Administrtion tab and click on Masters.
Step 6: Select salesman and click Add. Enter the required details and save.
Step 7: Enter the percentage or lump sum value for the commission in the Salesman Master or Party/Item Master. Alternatively, you can update it in the configuration window after selecting As Specified Below.