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How to create a Withholding Tax Code posting

These accounts designate the GL accounts to be allocated for withholding tax inputs and outputs.

Step by Step Guide:

1. Navigate to Set Up Files > Withholding Tax Codes.

2. Click the Withholding Tax Code that GL account postings are to be assigned to.

3. Enter or select the applicable GL accounts.

*Output WHT GL Account: Tax on client invoices for the selected tax code.

For example: The tax amount for a client job invoice is credited to this account, where the invoice tax code matches the selected tax code.

*Input WHT GL Account: Tax on supplier invoices for the selected tax code.

For example: The tax amount for a supplier invoice is credited to this account, where the invoice tax code matches the selected tax code.

4. Click Save

Tip: *****Indicates this is compulsory – a GL account is required.