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Withholding Tax on Payments

by
Odoo

$ 91.25

v 10.0 v 11.0 v 12.0 Third Party 4
Versions 10.0 11.0 12.0
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Availability
Odoo Online
Odoo.sh
On Premise
Odoo Apps Dependencies • Invoicing (account)
• Purchase (purchase)
• Discuss (mail)
Lines of code 193
Technical Name tax_payment_journal
LicenseAGPL-3
Websitehttps://itechresources.pk
Versions 10.0 11.0 12.0

Withholding Tax on Payments

Withholding Taxes can be created and seen from the same menu as of the normal taxes.

Sequence definition

After Module installation, a check box “is withholding” becomes visible on a normal tax form in taxes configuration. If the tax being created is a withholding tax then this “is withholding” box should be checked.

Sequence definition

On payment form, a special field namely “Tax Type” becomes visible in which all withholding taxes’ suggestions can be seen out of which desired tax can be selected.

Sequence definition

Note: On a payment with no withholding tax, a withholding of 0% rate should be created and selected.

After the payment is validated, a journal entry is passed on backend in which Bank/cash is credited net of withholding tax amount.

Sequence definition

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by
Umair Sarwar
on 6/21/22, 2:37 AM

Can you show the partner ledger. how it would show in partner ledger.