How do you incorporate tax you deduct in a payment, as opposed to tax paid in a payment?
e.g. If I need to pay a correspondent a fee, I have to deduct withholding tax from the fee amount.
So, say I have to pay a correspondent $2000. I need Manager to reflect the withholding tax - say 15% deductible tax.
$2000 minus $300 (withholding tax) = $1700 (due to the correspondent).
Please forgive my ignorance - I m not used to doing accounts and have had to step in to update our accounts system!!!