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💳 Record TDS Payment

Payments Already Recorded —

📂 Chart of Accounts Guide
📌 Create these accounts in your accounting software (Tally / Zoho Books / QuickBooks) before posting any journal entry. Account type determines where it appears in Balance Sheet or P&L.

🟢 Assets (Balance Sheet)

  • Bank Account
    Type: Bank / Current Asset
  • Cash Account
    Type: Cash / Current Asset
  • TDS Recoverable A/c
    Type: Current Asset (if TDS is on your receipts)

🔴 Liabilities (Balance Sheet)

  • Loan from [Lender] A/c
    Type: Unsecured Loan / Long-term Liability
  • Interest Payable A/c
    Type: Current Liability (one per lender or consolidated)
  • TDS Payable A/c (Sec 194A)
    Type: Duties & Taxes / Current Liability

🟡 Expenses (P&L)

  • Interest Expense A/c
    Type: Indirect Expense / Finance Cost
  • Bank Charges A/c
    Type: Indirect Expense (optional)

🔵 Groups / Notes

  • Loans (Liabilities)
    Create a group for all loan accounts
  • Finance Costs
    Group for interest expense accounts
  • Statutory Liabilities
    Group for TDS Payable accounts
Account Creation Order (Tally ERP / Tally Prime):
1. Gateway of Tally → Chart of Accounts → Create Ledger
2. For each lender: Create "Loan from [Name] A/c" under Unsecured Loans
3. Create "Interest Payable — [Name]" under Current Liabilities → Provisions
4. Create "Interest Expense A/c" under Indirect Expenses → Finance Costs
5. Create "TDS Payable A/c (Sec 194A)" under Current Liabilities → Duties & Taxes
6. Your existing Bank A/c and Cash A/c are already available

In Zoho Books / QuickBooks: Chart of Accounts → New Account → Select type from the grid above
Summary