To track the TDS payable in QuickBooks, we need to enable the supplier for TDS and when you create an expense or bills, you can click on 'Calculate TDS'. QuickBooks will calculate the TDS on the basis of TDS entity and section. Please follow below steps to enable the supplier for TDS.Enable TDS for Suppliers
To enable TDS for suppliers, while creating a new supplier, enter the PAN number of the supplier and check the box TDS Applicable. Once you click on TDS Applicable, you will have option to select Entity Type and default TDS section applicable for the supplier. Please select relevant options. TDS will be calculated for the supplier according to the threshold prescribed under the selected section during entry of a Bill or Expense. However, if you want to override threshold and enter the TDS amount manually, please tick the check box, which reads Override Calculation Threshold.
For enabling TDS for already existing supplier, follow the steps below:
Once TDS is enabled for a particular supplier, while entering the bill for that supplier, you will get option to automatically calculate TDS based on the selected section.
*Note : TDS Calculation is possible only for Bills & Expense transactions dated on or after 1st of April 2014. For transactions prior to 1st April 2014 please calculate the TDS manually and enter.
'TDS Payable' payment can be done by entering an 'Expense' voucher and select the "TDS Payable' Account in account column.
Hope this helps.