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FI-CA Simple Withholding Tax (Customer withholds) - Credit Memo Clearing

Hello Colleagues,

I have configured Withholding Tax for Interest receivables with Setting value = 1 (Customer can withhold).

I have also configured the withholding tax code percentage and enabled Withholding tax upon payment (checkbox).

When I post the Interest, the Withholding Tax code is populated on the Interest document. At the same time, a Statistical Credit memo (Stat Key "Q") is created for the amount of the withholding tax (based on my Withholding Tax percentage).

When I pay the Interest document, it just pays the Interest amount, and the credit memo is intact.

When I try to use Account Maintenance to clear the Statistical credit memo, it says the difference is too large to be cleared (even though the debit = credit amounts).

Is there a step that needs to be performed that I'm not aware of?

Your feedback would be really appreciated.

Thanks and regards,

Ivor Martin

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  • Hello colleagues,

    Does anyone have any suggestions on a convenient way to clear a statistical Withholding Tax Credit memo when the the linked receivable is being paid?

    Currently (while Payment is being made), the User has to select the statistical credit memo as well as the associated open debit in order to post to the Withholding Tax G/L Account.

    Your feedback would be really appreciated.

    Thanks and regards,

    Ivor Martin

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