The Central Board of Direct Taxes (CBDT) had reduced the Tax Deducted at Source (TDS) rates by 25% (for transactions created from 14 May 2020 to 1 March 2021) to help businesses cope with the pandemic. However, from 1 April 2021 they have normalised it, and you'll have deduct TDS at the normal rate in the respective transactions.
To comply with this, you can now do an advanced search in the Vendors module based on TDS rates and bulk update the rates for whom the TDS has been reduced. This will normalise the TDS rates in the future transactions created for this vendor.
To bulk update: Go to Purchases > Vendors > Select the vendors for whom you wish to change the TDS rate > Update TDS.
The new Retail - Premium template will allow you to accommodate more details in your documents printed on thermal printers. You can include the billing address, shipping address, additional fields, and, terms and conditions. You can use this template for estimates, invoices and credit notes.
To customise the template: Go to Settings > Templates > Go to Invoices/Estimates/Credit Notes > Click +New > Click Retail in the tab > Select Retail - Premium.
Introduced custom sync for marketplace integrations. You can enter the Start Sync Time and the End Sync Time for a specific integration and it will fetch the entities last modified time in marketplace. The time difference between the start sync time and the end sync time should not be more than 5 days.
Track purchase receives in real time using Afterships. You can track the receives by entering the tracking number and the carrier name. You will have to add the access link to see the real time update for all the shipments. You can track Easypost shipments and manual shipments as well.
Introduced an option to enter the cost price while creating or editing Inventory Adjustments by quantity and inter-branch transfer orders. In quantity adjustments, this field will be pre-filled with cost price from the most recent purchase transaction and, in transfer orders, this field will be pre-filled with the cost price from the most recent transaction associated with the destination branch.
Introduced the “Bill Third Party” payment method. This billing option is tailor made for Dropshipping. You can choose to charge yourself or a third party for shipping or duty and taxes independently.
Do try these features out and let us know what you think in the comments below. If you have any further queries, please contact us at email@example.com.