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TDS Rounding

YouTube: How to Configure Different TDS Rounding Methods in Purchase ?

How to Configure Different TDS Rounding Methods in Purchase ?

 In this tutorial, we will explore the TDS rounding options available in Purchase Configuration under Purchase Voucher Settings in Logic ERP. The system provides multiple rounding parameters to adjust the TDS amount, ensuring accuracy in financial transactions.

Accessing TDS Rounding Options

  • Navigate to the Purchase Voucher Configuration.

  • Under the Other Settings 3

  • TDS Rounding Option (Dropdown Menu).

  • By default, the system is set to Upper Value Rounding.

As mentioned above, follow the given steps and select the appropriate option from the dropdown as per your requirement.

Understanding Different Rounding Parameters

  • Upper Value Rounding (Default)

    • The TDS amount is rounded upward to the nearest whole number.

    • Example: ₹17.97 → Rounded to ₹18

As you can see, the software has rounded off the value of 17.97 to the upper value of ₹18.

  • Nearest ₹1 Rounding

    • The TDS amount is rounded to the nearest whole rupee.

    • Example: ₹13.59 → Rounded to ₹14

  • Nearest ₹0.50 Paise Rounding

    • The TDS amount is rounded to the nearest 0.50 paise.

    • Example: ₹22.28 → Rounded to ₹22

As you can see, the software has rounded off the value of 22.28 to ₹22 as per the nearest 0.50 rounding rule.

  • Nearest ₹5 Rounding

    • The TDS amount is rounded to the nearest multiple of ₹5.

    • Example: ₹23.49 → Rounded to ₹25

As you can see, the software has rounded off ₹23.49 to ₹25 as per the Nearest ₹5 rounding rule.

  • Nearest ₹10 Rounding

    • The TDS amount is rounded to the nearest multiple of ₹10.

    • Example: ₹23.49 → Rounded to ₹20

As you can see, the software has rounded ₹23.49 to ₹20 as per the Nearest ₹10 Rounding setting.

  • Lower Value Rounding

    • The TDS amount is rounded downward to the nearest whole number.

    • Example: ₹23.48 → Rounded to ₹23

As you can see, the software has rounded off ₹23.48 to ₹23 as per the Lower Value Rounding setting.

Conclusion

TDS rounding options in Logic ERP help businesses manage tax deductions efficiently by selecting the appropriate rounding method as per financial policies.

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