Difference between revisions of "Withholding Tax"

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(Payment of Withholding Tax)
(See also)
Line 87: Line 87:
==See also==
==See also==
* [[Print SST Listing]]
* [[Cash Book Entry]]
* [[SST-Account for Pending Service Tax over 12 months]]
* [[Customer Payment]]
* [[Supplier Payment]]
* [[Print Ledger Report]]
* [[Account Inquiry]]

Revision as of 10:48, 1 October 2019

Initial Setup

Create Withholding Tax Account

[GL | Maintain Account...]

Create the following GL Account under Current Liability.
GL Account Description Special Type
WTH-Tax Withholding Tax Bank Account

Withholding Document Number Set

[Tools | Maintain Document Number...]

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

2. Next, Go to Tools | Maintain Payment Method...
4. Set OR and PV number Set to WITHHOLDING TAX. Click Save.

Withholding Tax Entries

Withholding Tax (AP)

[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 (Withholding tax amount 10% of supplier invoice value).
5. Knock-off the supplier invoice.

Withholding Tax (AR)

[Customer | Customer Payment...]

1. Create new Customer Payment.
2. Select the Customer Code.
3. Select the Received In: WITHHOLDING TAX.
4. Enter the Paid Amount: 2,560.00 (Withholding tax amount 10% of customer invoice value).
5. Knock-off the customer invoice.

Withholding Balance Report

[ GL | Print Ledger Report...]
[ Inquiry | Account Inquiry...]

1. Select Date Range.
2. Select Account: WTH-TAX
3. Click Apply.

Payment of Withholding Tax

[ 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.

See also