What is WHT in Financial Module and What would be tbe acc entry for the sa

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Question

What is WHT in Financial Module and What would be tbe acc
entry for the same?

Question Submitted By :: Dinesh

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Answer Posted By

Re: What is WHT in Financial Module and What would be tbe acc entry for the same?

Answer
# 1

WHT is withholding tax in oracle terms.  
You hold the tax part while you enter your invoice and pay 
it to the tax authority.  U r tax authority should be 
defined as your supplier.  

This may happen when u have to pay purchase tax to the tax 
authority, and wanted to withhold it.

withholding tax a/c  dr
payables a/c           cr

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Swathi

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