Where we track Property Tax payment made to Government?

This can be achieved by 2 steps.
A. Create a Vendor Account for Concerned Authority
B. Update payment made to Government for Property Tax.

A. Create a vendor account for concerned authority eg. T.M.T or MCGM in expense tracker as per process mentioned at this link.

Step 1. While creating account, select "Account Head" as "Taxes".

Step 2. Give the proper description in "Note" text box.

B. Update payment made to Government for Property Tax.

Step 1: Login to ADDA -->> Admin –>> Expense Tracker

Step 2: Select “By Vendors”

Step 3: Click on the “Payment” button in the row of the vendor, you have created.
Note: A new window will appear showing all the open bills in the list.

Step 4: Enter the amount in the "Payment Amount" text box.

Step 5: Select mode of payment from Cheque, NEFT, Cash or DD

Step 6: If the mode of payment is selected as "Cheque", "NEFT" or "DD", Enter Cheque Number or NEFT Reference Number in the "Instrument Number*" text box.

Step 7: Enter Narration in the "Comments" text box if any.

Step 8: Select the bank account from which the cheque is issued to make the above payment, If payment is deposited by cash into the bank specifically notified by govt. for collection of property tax, please select "Petty Cash" from the list box for "Bank & Cash Account".

Step 9: Select the date on which the transaction is made under the "Post On" date selector.

Step 10: Click on the "Post Amount" button.

Once the transaction is posted, you can double verify the same by checking the ledger for "Taxes".

How to check a transaction in a ledger account? Click here https://support.adda.io/portal/en/kb/articles/what-is-query-tab-in-general-ledger-application

Related Articles
How to record on ADDA, the Service Tax remitted to Government?
Please follow the process to update service tax remitted to a government in a system. Step 1: Login to ADDA -->> Admin -->> Bank & Cash -->> Taxes -->> Service Tax Step 2: Click "Remit Service Tax to Govt" Step 3: Enter the Service Tax Payable Amount ...
MC or Auditor or a Staff Paid the expenses on be half association and later on Association reimbursed the amount to the MC or to the Auditor or to the Staff. How to account this on ADDA?
In such use cases, you need to Knock off TDS Payable entry with MC or Auditor or Staff GL who have actually paid the amount on behalf of the association and issue the cheque or initiate the online payment to the MC or to the auditor or to the Staff ...
How to disable Late Payment Interest for specific units?
To achieve this, you will have to create a new unit type called "NO LPI" and Make the following changes: Step 1 - Go to Admin Dashboard>>Income Tracker>>Track Units>>Unit Type>>Create a unit type called NO LPI>>Save Changes. Step 2 - Go to Income ...
What is Reverse Charge Mechanism (RCM) and How to handle RCM on ADDA?
Reverse charge is a mechanism where the recipient of the goods or services is liable to pay Goods and Services Tax (GST) instead of the supplier. Follow the steps below to handle RCM on ADDA: Step 1 - Create a GL "Tax Pain on RCM" under General ...
How can Admin setup facility where booking can be done only after payment is made?
There is an option to make facilities available for booking only after payment is made. Once a booking is done, ADDA will hold the booking for 15 mins. If payment is not made within that 15 mins, system will cancel the booking and open up the booking ...

Where we track Property Tax payment made to Government?

Where we track Property Tax payment made to Government?

Related Articles

How to record on ADDA, the Service Tax remitted to Government?

MC or Auditor or a Staff Paid the expenses on be half association and later on Association reimbursed the amount to the MC or to the Auditor or to the Staff. How to account this on ADDA?

How to disable Late Payment Interest for specific units?

What is Reverse Charge Mechanism (RCM) and How to handle RCM on ADDA?

How can Admin setup facility where booking can be done only after payment is made?