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Hi userprateek-goel!
The Tax Collected at Source (TCS) is currently unsupported in QuickBooks Online. However, I have a workaround you can use so let me share it with you.
We have an option to create a custom tax rate. Let's utilize it to set up your TCS.
You can now select it when recording sales transactions. Another way to set up the TCS is to add a new product item. Here's how:
Once done, you can add this item to the invoice and manually enter the TCS amount. Please note that with this method, you won't be able to pay this tax through the tax center. To record a payment, just create a check. Also, go to your Chart of Accounts and review the liability account to see the tax owed.
You also want to reach out to your accountant to see if they have a different way on how to enter TCS in QuickBooks Online. For more tax-related articles, visit this link: Tax for QBO.
Keep on posting here if you need more of my help. Stay safe!
how can we add tcs in sales invoice
Please provide customer care number in India
Hello there, 123145853403422H17.
Right now, adding TCS on the invoice is not supported yet in the system for the deduction. For now, you can create a custom tax rate as a workaround. Here's how:
Once done, you can now select it when recording sales transactions. There's another way on how to set up TCS by adding new product items. Here's how:
I've included the steps to contact support below, along with the direct link to chat Support.
Please check this article to see different information about QuickBooks for GST and how this affects QuickBooks users: How GST impacts QuickBooks users.
I also recommend visiting our QuickBooks Blog. This way, you'll be guided with updates and newly released features in QuickBooks.
I'll be right here to continue helping if you have any other concerns or questions about adding TCS on the Sales invoice. Assistance is just a post away. Take care always.
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