Process foreign Supplier Invoices where WHT is liable
Foreign Supplier Invoice - Supplier Liable for WHT
Ensure foreign currency rates are set up.
Refer to Configure Foreign Currency Codes for process. Note: WHT is NOT calculated on the PO.
Ensure supplier's VAT/GST status is set up correctly.
If a PO is created when the supplier was not registered for GST, and you later find out the supplier is registered for GST you have to cancel the PO update the supplier record to reflect correct WHT status and create a new PO.
Create Supplier Invoice
In this example, the supplier cost is SGD1000.00, VAT is Nil and WHT is SGD100.00.
GL Posting
The foreign currency rate is set up in the following screen:
| Note: |
WHT is calculated at 10% of cost on supplier invoice i.e. IDR 1066175.90.
Cost of revenue is IDR 10661758.96
Trade Creditors is IDR 9595583.06
Aged Trade Payables
Aged Trade Payables in currency of invoice i.e. SGD
Aged Trade Payables in currency of division i.e. IRD
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