Dear Experts,
Please suggest me in the following Issue.
Can we create a Withholding Tax Code, so that it will not reduce the amount from the Vendor, instead it should increase (should be added to) the Expense amount.
For Example:
If we create a Withholding Tax Code, Acual expense amount = 100
Then the entry will look as follows:
Expense Account Dr. 100
To Vendor Account Cr. 90 (100-10)
To Tax Payable account Cr. 10
But can we Configure Withholding tax as follows
Expense Account Dr. 110 (Actual exp 100 + Withholding Tax 10)
To Vendor Account Cr. 100 (Total Actual expense amount)
To Tax Payable account Cr. 10
Please help
Regards,
Ramana.Gottipati