Withholding Tax: Difference between revisions

Revision as of 03:14, 6 June 2020

Menu : GL | Maintain Account...

GL Account	Description	Remark
460-XXX	WITHHOLDING TAX PAYABLE	Under Current Liabilities
990-XXX	WITHHOLDING TAX EXPENSE	Under Expenses

NOTE: 
GL Account not compulsory to follow.

[Supplier | Supplier Payment...]

1. Create new Supplier Payment.

2. Select the Supplier Code.

3. Select the Payment by: WITHHOLDING TAX.

4. Enter the Paid Amount: 110,000.00 (eg. the withholding tax amount 10% of supplier invoice value).

5. Knock-off the supplier invoice.

[ GL | Cash Book Entry..]

1. Create new PV.

2. Enter Payee name.

3. Select Payment By: Bank Account

4. At detail grid, select GL Code: WTH-TAX

5. Enter the withholding tax amount to paid.

6. You can check the ledger report for Withholding Tax balance.

@@ Line 1: / Line 1: @@
 ==Initial Setup==
-===Create Withholding Tax Account===
+===Withholding Tax Account===
-''[GL | Maintain Account...]''
+''Menu : GL | Maintain Account...''
 <br />
-:Create the following GL Account under '''Current Liability'''.
 ::{| class="wikitable"
 |-
-! GL Account !! Description !! Special Type
+! GL Account !! Description !! Remark
 |-
-| WTH-Tax || Withholding Tax || Bank Account
+| 460-XXX || WITHHOLDING TAX PAYABLE || Under Current Liabilities
+|-
+| 990-XXX || WITHHOLDING TAX EXPENSE || Under Expenses
 |}
-:[[File: WTH-Tax_01.jpg| 500PX]]
-<br />
-===Withholding Document Number Set===
+ '''NOTE:'''
-''[Tools | Maintain Document Number...]''
+ GL Account not compulsory to follow.
-<br />
-:1. Create the following document number set for '''Withholding Tax'''.
-:[[File: WTH-Tax_03.jpg| 500PX]]
-::{| class="wikitable"
-|-
-! Descripion !! Document Type !! Format
-|-
-| WITHHOLDING TAX || Payment Voucher|| WTHPV-%.5d
-|}
-<br />
-:2. Next, Go to ''Tools | Maintain Payment Method...''
-:3. Edit the '''WITHHOLDING TAX'''.
-:4. Set the PV number Set to '''WITHHOLDING TAX'''. Click Save.
 <br />