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author's profile photo Former Member
Former Member

Posting Withholding Tax

Dear Expert,

I need your help. I have transaction in IDR and post invoice in FB 60. The local currency in USD. The journal is as follow:

Dr. Expense IDR 1,000,000 USD 108,70

Dr. VAT Paid IDR 100,000 USD 10,87

Cr. Vendor IDR 899,996 USD 97,83

Cr. VAT Payable IDR 100,000 USD 10,87

Cr. WHT Payable IDR 100,004 USD 10,87

Tax Percentage for VAT is the same with WHT 10%. The amount in Local Currency between VAT is teh same with WHT USD 10,87. But the amount in Document currency is different VAT (IDR 100,000) and WHT (IDR 100,004). Kindly need your advice to solve this problems.

Thanks before,

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  • Best Answer
    author's profile photo Former Member
    Former Member
    Posted on Apr 02, 2011 at 09:42 AM

    Hi,

    It seems this is a currency conversion small difference is due to conversion. Here you can goto the WHT tax and change WHT base amount in IDR with -/+,so that your local currency will match, in which ultimately you need to pay.

    Regards

    Milind Sonalkar

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  • author's profile photo Former Member
    Former Member
    Posted on Apr 01, 2011 at 04:58 AM

    Hi,

    configure in the withholding tax code column. by assigning different tax rates for VAT AND WHLD TAX. by this you can get different tax rate for VAT and WHLD TAX.

    Regards

    Maruthi kumar.j

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  • Posted on Apr 01, 2011 at 11:57 AM

    Dear John11,

    You should create a WT type at invoice time (on gross or net amount, I think gross amount per Your case) and a wt code with the percentage of 10% on 100%.

    I hope this helps.

    Mauri

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