Dear Gurus,
Can anyone please guide me how to calculate the amount of tax paid against vendors during a certain month/Period. In fact i have to develop a customized report of WHT.
WHT TAX calculation
its simple i explain again
u have defined in ur system two suppliers one is ur vendor the other is ur WHT govt agent which is bank like in Pak we have National Bank of Pak or State bank of Pak and similary u have defined also at back tax rates for ur suppliers like here we have for supplier for godds 3.5% and for services 5% so when any payment is made from system to any supplier for goods for whom u have defined ur WHT also while making entry in system at the distribution level , system will deduct tax as defined automatically and credit it in the name of WHT agent which is ur bank NBP OR SBP , next step is to make payment of that tax then u have to Dr. that bank NBP or SBP and credit now ur local disbursment
account. so u must practice it in test environment first.
thanks
mohsin
u have defined in ur system two suppliers one is ur vendor the other is ur WHT govt agent which is bank like in Pak we have National Bank of Pak or State bank of Pak and similary u have defined also at back tax rates for ur suppliers like here we have for supplier for godds 3.5% and for services 5% so when any payment is made from system to any supplier for goods for whom u have defined ur WHT also while making entry in system at the distribution level , system will deduct tax as defined automatically and credit it in the name of WHT agent which is ur bank NBP OR SBP , next step is to make payment of that tax then u have to Dr. that bank NBP or SBP and credit now ur local disbursment
account. so u must practice it in test environment first.
thanks
mohsin
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