Best Practices for handling the Supplier Retention /Withholding
I have Question for you ....
What is the Standard or Best Practices for handling the Supplier Retention (Invoice Amount =1000 ,Retention Amount=200 (20%) ).
## One option is Using Withholding Tax ,
(i).Creating a withholding Tax Authority as a supplier ,
(ii).Define Withholding Tax Type
(iii) Automatically /manually applying the Withholding Tax to a Supplier Standard Invoice ,
(iv) Automatically a Invoice is created for withhold or Retention amount against the ‘withholding Tax Authority’
(v). After Accepting completely accepting Service or after fulfillment of terms &condition ,the payment is processed .
Am looking for alternative options or solution.
As you all aware ,the Withholding invoice is created against the Withholding Supplier instead of Actual supplier ..