Ideas for Acumatica

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Option to post Withholding Tax on GL upon release of Invoice on AR

Some customer or tax agency require posting of withholding tax upon release of the invoice it would be great if we had that kind of option.

  • Guest
  • Jun 29 2015
  • Future consideration
  • Attach files
  • Gabriel Michaud commented
    June 29, 2015 14:42

    In which country / state / city do you have this requirement?

  • Guest commented
    June 30, 2015 08:24

    Philippines

  • Guest commented
    June 30, 2015 08:32

    Oh sorry I mean on AP. but if AR could support withholding with this kind of option it would be great as many clients here in the philippines do post Withholding Tax on Invoice as it is also required by the tax agency here in the Philippines. 

  • Gabriel Michaud commented
    July 07, 2015 16:09

    Thanks for your answer. What is the impact of not having this feature in the system right now? Is it affecting only a small number of customers or every single business in the Philippines using Acumatica?

  • Guest commented
    July 08, 2015 02:26

    The impact of not having this feature is making us partners having a hard time to make acumatica accredited by Tax Authorities especially to those partner who has limited capabilities on customizing acumatica, and also it makes some of our customers making a hard time creating adjustments as it is required by the Tax authority so the processing of transaction makes a lot of time through workarounds especially to those customers who has hundred to a thousand transactions per day.

  • Guest commented
    July 08, 2015 02:28

    And yes, it is required to every business in the philippines who withholds taxes..

  • Gabriel Michaud commented
    July 08, 2015 02:32

    To summarize, you are forced to have withholding tax posted at time of invoice release, and Acumatica only posts it when you process payment.

  • Guest commented
    July 08, 2015 05:01

    yes. 

  • Mark Petrimetre commented
    September 18, 2015 08:12

    NAV also have this kind of option. to post during Payment or Invoice.

  • Guest commented
    September 23, 2015 18:05

    India has this requirement as well on the AP side.  In India, the government requires all withheld taxes to be accrued and paid on an accrual basis.  On a similar note, they have a requirement to withhold VAT taxes from certain vendors as well...

  • Linda Bower commented
    October 13, 2016 05:42

    Hi folks

     

    We have this requirement in Africa as well.  I am attaching the process received from one of our clients. Perhaps this will assist.

     

    It's a very tedious manual process at the moment

     

    Kind Regards

     

    Linda