- 1 Minute to read
- Print
- DarkLight
How to process Foreign Supplier Invoices where Withholding Tax is liable
- 1 Minute to read
- Print
- DarkLight
NOTE - This is still in progress and not completed
Withholding Tax Asia
Process Foreign Supplier Invoice - Supplier Liable for WHT
Foreign Supplier Address book Record
1 Ensure foreign currency rates are set up. Refer to Configure Foreign Currency Codes for process. |
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. |
Note: WHT is NOT calculated on the PO |
Create Supplier Invoice
In this example the details are |
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 |
Aged Trade Payables
Aged Trade Payables in currency of invoice i.e. SGD
Aged Trade Payables in currency of division i.e. IRD
Need more help?
Please contact support, call 02 8115 8090 or email support@jobbag.com
Did this article help you? |