Payables and Cash Management - EBS (MOSC)

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Best Practices for handling the Supplier Retention /Withholding

edited Jan 17, 2010 7:17PM in Payables and Cash Management - EBS (MOSC) 10 commentsAnswered
Dear Friends,

 

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 ..

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