Withholding tax

1

may some one please assist on how to deal with withholding tax amount after the invoice is paid by the debtor, lets say the money owed was 200 but the amount paid is 195, the 5 shillings is the wht amount, what then is the treatment of the withholding tax paid less

2

What country are you in?

The treatment will depend on that

3

am from Tanzania, the withholding tax is deducted in the amount before Vat

4

i tried to create a journal to clear the entries but i fail to allocate thebalalnce sheet accounts,since Withholding tax receivable is the liability in the balance sheet account, i guess i am missing something in my setups, otherwise the Software does supportposting entries in the balance sheet

5

Account for withholding tax on sales invoices | Manager

Withholding tax | Guides | Manager.io
Withholding Tax Receipts | Guides | Manager.io

6

Thank you ,
blessed

7

You should always search the guides
New guides here Guides | Manager.io
Old guides here Guides | Manager
and the forum
BEFORE posing a question
Almost all questions have already been posed and answered

8

thank you very much, may i get to know the most updated version of manager
i am using 24.4.3.1395

9

Have you looked at the www.manager.io site - the latest version is always on the site

10

Yes i have update my software already to version 24.9.2.1834

but still i am encountering a problem of not seeing the balance sheet accs why doing journals

11

You need to post copies of the Edit screens and of your chart of accounts - you have not created the business correctly but it is impossible to say what you have done incorrectly just from your description

In any case, it is rare to use journal entries in Manager

12

i get buddy , the problem was in chart of accounts i was creating new groups instead of new accounts

13

thanks buddy , i appreciate

14

In support of @Joe91 and as per old guides at https://www2.manager.io/guides/9820

Note:

In Manager, most transactions are entered in other functional tabs, thereby automating many decisions about account posting and reducing errors. So journal entries are relatively few.

In newer version Manager does allow transaction involving the actual receipt or payment of funds by a business to be recorded via a journal entry but that was to meet the need for creating starting balances. It is still good practice to use Receipts and Payments and other functional tabs that you enable using Customize.