How to use "Applied Withholding Amounts" option in Receipt window.
Summary:
In 25D, an option has been enabled to apply the withholding amount in the Receipt window. How do we use this option?
as an example,
- Invoice line amount: 100 INR
- VAT (18%): 18 INR
- Invoice total: 118 INR
- WHT rate (example): 10% on 100 INR
- WHT amount: 10 INR
- What should the receipt amount be: 118 INR or 108 INR?
- In our company, we use both VAT and WHT taxes. Can this option be used only for WHT?
- If we create a manual ‘Receipt Withholding’ activity line to track amounts withheld before customer confirmation, should the amount be entered as 10 INR or -10 INR?
- After customer confirmation, when applying the receipt to the invoice, what should the ‘Applied Amount’ and ‘Applied Withholding Amount’ be? Should the manual withholding activity line be removed before applying the receipt, or can it remain?
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