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What is WHT in Financial Module and What would be tbe acc
entry for the same?
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Answer Posted / swathi
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
| Is This Answer Correct ? | 6 Yes | 4 No |
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HI, once we create the standard invoice then we can get journal entry item expense a/c-dr to liability a.c then item it will reflect through inventory, but liability a/c . it will reflect from GL , it is possible .
Please post the setups required to approve the payable invoice in AP.
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