Dear SBO Experts,
Below is a requirement by one of our Clients:
All sales in our restaurant are subjected to a 2% catering levy of the net amount (before VAT). Please also note that all items are tax liable (subjected to 16% Value Added Tax).
Consider this example:
A sales invoice of 1,000 (Total Before Discount)
1. The amount will attract a VAT of 160 (16% *1000) and a Catering Levy of 20 (2% *1000)
2. The entries are:
Debit - Accounts receivable/ Customer 1180 (Document Total)
Credit - Revenue 1,000
Credit - VAT 160
Credit - Catering Levy 20.
I have tried setting up withholding tax and linking it to the customers but the Document Total is coming to 1140 instead of 1180.
I need your assistance configuring this requirement on SBO and making sure GL accounts are posted as specified above. Thanks