Maintain Withholding Tax

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Revision as of 03:02, 6 June 2020 by Csloo (talk | contribs) (Create Withholding Tax Code)
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Menu : Tools | Maintain Withholding Tax...

Create Withholding Tax Code

1. Click New.
2. Input the following data:
Field Name Explanation Remark
Code Set a code WTH-TAX15
Description Describe the meaning/usage of this code Withholding Tax 15%
Tax Rate Withholding Tax Rate 15%
Tax Account (DR) Set to Withholding Tax Exepense account At GL\Maintain Account, create the Withholding Tax Expense account under Expenses
Tax Account (CR) Set to Withholding Tax Payable account At GL\Maintain Account, create the Withholding Tax Payable account under Current Liabilities
500PX


3. Click on Save.

Withholding Document Number Set

[Tools | Maintain Document Number...]

1. Create the following document number set for Withholding Tax.
500PX
Descripion Document Type Format
WITHHOLDING TAX Payment Voucher WTHPV-%.5d


2. Next, Go to Tools | Maintain Payment Method...
3. Edit the WITHHOLDING TAX.
4. Set the PV number Set to WITHHOLDING TAX. Click Save.