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Withholding tax

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  • 02-05-2016 2:21pm
    #1
    paniaq
    Registered Users Posts: 2 ✭


    Hi,

    Can someone advise double entry for WTH tax? We are the seller and our customers pay 20% tax of the gross sales invoice on our behalf.

    e.g.

    Sales Invoice €5000
    WTH 20% 1000
    receipt 4000



    Thank you.


Comments

  • Options
    #2
    Lockedout2
    Registered Users Posts: 402 ✭✭Lockedout2


    paniaq wrote: »
    Hi,

    Can someone advise double entry for WTH tax? We are the seller and our customers pay 20% tax of the gross sales invoice on our behalf.

    e.g.

    Sales Invoice €5000
    WTH 20% 1000
    receipt 4000



    Thank you.

    Dr Bank 4,000
    Dr withholding tax Ac 1,000
    Cr sales ledger control ac 5,000


  • Options
    #3
    paniaq
    Registered Users Posts: 2 ✭paniaq


    Thank you!


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