Purchase Formula with TCS

Purchase Formula with TCS

Generally, The TCS amount would not be added in the  invoice amount and the landing cost. But, If the TCS amount needs to be included in the  invoice amount, it can be done with this feature " Purchase Formula with TCS"  This feature is added along with an one time configuration. If this configuration is enabled, a new calculation master will be enabled and a default purchase formula with TCS will be created automatically.

To enable the one time configuration, navigate to Tools - > Configuration -> Configuration -> Category wise configuration - > One Time Configuration - >Enable the configuration :  Get TCS  (Tax collected at source)  input value in purchase  using formula



Select the configuration  "Get TCS  (Tax collected at source)  input value in purchase  using formula " , Go through the risks , terms and conditions. 

Click on Agree to the terms and conditions and select the check box " Yes, I  Agree and enable it " to save this configuration.


Once you enable this configuration , it cannot be reverted back.

On Enabling this configuration , TCS Amount master will be created under calculation master and a new purchase formula ( " GST TCS Formula ") for TCS calculation will be created automatically. 

Now, we need to map this purchase formula to the required suppliers.
In order to do so, Navigate to Purchase - > Purchase formula. Click on Change and load the purchase formula   " GST TCS Formula " in edit mode.

Select the Distributor under the Distributor name column and click on save 
If you want to enable it to all of your suppliers, enable the option All Distributors on the top left radio button.

Note:  If this is not required, still you can proceed with the existing method. If this configuration is enabled, we will not be able to input the TCS details under the TCS attribute on more options window.

Now while saving the purchase invoice, input the TCS amount in the TCS amount column, the tax and TCS calculation will work as per the newly created formula. (" GST TCS Formula ")


As visible, The TCS Amount is added to the invoice amount and it did not create any impact in the Landing cost.
Also,  the accounts posting details can be viewed in the Day book report  on AccountsEasy 


On double clicking the  voucher number, it will open the purchase posting details in the drill down.


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