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Reply from Rajesh on Nov 16 at 7:14 AM Hey What is Pay amount to vendor For Example 4000
withholding tax 10% on base 400
that means it's working Right ...
You have to tell Base amount than system will calculate other taxes on base ..
Thanks,
Rajesh
| | | ---------------Original Message---------------
From: tatenda chigwedere
Sent: Thursday, November 15, 2012 8:52 AM
Subject: Withholding Tax Not Posting Correctly
Hi Guys
I have configured withholding tax for vendors in the system. The client withholds 10% tax at payment level for non registered vendors. When i make an outgoing payment with withholding tax, say base amount is $4000, withholding tax 10%, the posting goes like this:
CR Bank a/c 4000
DR Vendor 400
DR Vendor 4000
CR Witholding tax account 400
I expected the system to debit the vendor with 3600, and credit withholding tax account 400, whilst debiting bank with 4000. Please assist where the problem is.
Regards
Tatenda |
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