Creating withholding codes

  1. Select Withholding Codes.
  2. Click Create.
  3. Complete the fields.
  4. Click Save.
  5. In the Withholding Code Details section, click Create.
  6. Complete the fields.
  7. Click Save.
  8. If the selected vendor group has the global withholding option enabled, select the Currency for the invoice entry and perform these steps:
    1. On the Global Withholding tab, specify this information:
      Type
      Select from these options:
      • Accrued

        The withholding amount is accrued at invoice release time. This splits the invoice accrual between the amount being paid and the amount being withheld.

      • Payment

        The withholding is deducted and will be calculated and posted at time of payment.

      Accumulated
      Select this check box to calculate the withholding amount using accumulated amounts throughout the entire month. This option only works for Payment type.
      Include Tax
      Select this check box to include tax when using an invoice amount to calculate the withholding.
      VAT Withholding
      Select this check box to calculate the withholding amount on the VAT TAX amount only.
    2. Click Save.
    3. On the Withholding Rate tab, specify this information:
      Effective Date
      Specify the effective date of the rate associated to the withholding code.
      Category
      Optionally, select a category to accept different rates with the same withholding code.
      Rate
      Specify the rate used to calculate the withholding amount. This applies to vendors not enrolled in a country withholding program.
      Minimum Withholding
      Specify the minimum amount allowed by the country before withholding can occur. This applies to vendors not enrolled in a country withholding program.
      Minimum Invoiced Amount
      Specify the minimum invoice amount allowed by the country before withholding can occur. This applies to vendors not enrolled in a country withholding program.
      Period Invoiced Threshold
      Specify the period invoiced threshold allowed by the country before withholding can occur. This applies to vendors not enrolled in a country withholding program.
      Exempt Amount
      Specify the amount not subject to withholding. This applies to vendors enrolled in a country withholding program.
      Withholding Scale
      Select the withholding scale amounts. This applies to vendors enrolled in a country withholding program. See Creating a withholding scale.
      Enrolled Rate
      Specify the rate used to calculate the withholding amount. This applies to Vendors enrolled in a country withholding program.
      Enrolled Minimum Withholding
      Specify the minimum amount allowed by the country before withholding can occur. This applies to Vendors enrolled in a country withholding program.
    4. Click Save.