WITHOLDING TAX CALCULATED WRONGLY
Posted: Sat Aug 24, 2013 2:26 pm
Dear Pros....
We want Oracle to APPLY Witholding tax at Payment time and create withholding invoice at payment time
Following is our setup:
In Payable Options window: Witholding Tax Tab
Use Witholding Tax = Check
Allow Manual Witholding = Check
Witholding amount basis:
Include Tax amount = Check
Apply Witholding Tax:
At Payment Time = Check
Create Witholding Invoice :
At Payment Time = Check
Total Invoice Amount to be processed = 100
Our desired result should be the following double entry
@ Invoice entry time
DR Expense 100
Cr Liability 100
@ payment time
We want Oracle to APPLY Witholding tax at Payment time and create withholding invoice at payment time
Following is our setup:
In Payable Options window: Witholding Tax Tab
Use Witholding Tax = Check
Allow Manual Witholding = Check
Witholding amount basis:
Include Tax amount = Check
Apply Witholding Tax:
At Payment Time = Check
Create Witholding Invoice :
At Payment Time = Check
Total Invoice Amount to be processed = 100
Our desired result should be the following double entry
@ Invoice entry time
DR Expense 100
Cr Liability 100
@ payment time