Customer Receipts: Additional Withholding Income Tax
FastAccounts.pk is currently the fastest-growing Cloud Accounting Software in Pakistan.
In case a customer has made a payment before the Sale invoice has been generated, and they have deducted with the advance Withholding Income Tax from the payment. In the latest update, we have made the recording of this transaction much easier.
1. How to Record Additional WHT on Advance Sales Receipts
Simply go to Sales Receipts, Enter the Amount, this will appear as Unallocated Balance.
Select the WHT Rate and it will calculate the Additional WHT amount. The calculation of Additional WHT amount is done on gross-up Unallocated Balance. You can overwrite the Additional WHT Amount.
Once the Sale Invoice is raised make sure you link the WHT Amount with the Sale Invoice and remove it from the Additional WHT Amount.
Accounting made easy with Fast Accounts.
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