Difference between revisions of "Withholding Tax"

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(Withholding Tax)
Line 39: Line 39:
 
==Withholding Tax==
 
==Withholding Tax==
 
===Withholding Tax (AP)===
 
===Withholding Tax (AP)===
 +
''[Supplier | Supplier Payment...]''
 +
<br />
 +
 +
: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.
 +
<br />
 +
:[[File: WTH-Tax_05.jpg| 500PX]]
 +
<br />
 +
 +
===Withholding Tax (AR)===
 +
''[Customer | Customer Payment...]''
 +
<br />
 +
 +
: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.
 +
<br />
 +
:[[File: WTH-Tax_06.jpg| 500PX]]
 +
<br />
  
 
==See also==
 
==See also==
 
* [[Print SST Listing]]
 
* [[Print SST Listing]]
 
* [[SST-Account for Pending Service Tax over 12 months]]
 
* [[SST-Account for Pending Service Tax over 12 months]]

Revision as of 10:28, 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


500PX


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
WITHHOLDING TAX Official Receipt WTHOR-%.5d


500PX


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


500PX


Withholding Tax

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.


500PX


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.


500PX


See also