Withholding tax paid periodically - postings

Postings for withholding tax paid periodically by tax declaration
Step 1. Purchase invoice registration

If you register the purchase invoice, LN creates the following postings:

AmountDebit/ CreditLedger accountDefined in session
CostsDebitAccount of the invoice lineDepends on the set up.
VAT receivableDebitPurchase Tax account of the VAT tax codePosting Data for Tax Codes (tfgld0171s000) or Posting Data for Multiple Tax Codes (tfgld0170s000)
Social contribution payableCreditPurchase Tax account of the Withholding Social Contribution tax code
Social contribution expenseDebitSocial Contribution (Company Expense) account of the Social Contribution (Company Expense) tax code
Social contribution expenseCreditPurchase Tax account of the Social Contribution (Company Expense) tax code
Income tax payableCreditPurchase Tax account of the Withholding Income Tax tax code
Accounts payableCreditACP control accountAccounts by Financial BP Group (tfacp0110m100)

 

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Step 2. Purchase invoice payment

If you finalize the payment of the purchase invoice, LN creates the following postings:

AmountDebit/ CreditLedger accountDefined in session
Accounts payableDebitControl AccountAccounts by Financial BP Group (tfacp0110m100)
BankCreditAccount selected for the transaction type used for the bank in Cash Management.

 

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Step 3. Periodical withheld income tax and social contributions declaration

If you submit the periodical withheld income tax and social contributions declaration, LN creates the following postings:

AmountDebit/ CreditLedger accountDefined in session
Withheld income tax payableDebitPurchase Tax account of the Withholding Income Tax tax codePosting Data for Tax Codes (tfgld0171s000) or Posting Data for Multiple Tax Codes (tfgld0170s000)
Social contribution payableDebitPurchase Tax account of the Withholding Social Contribution tax code
Social contribution payableDebitPurchase Tax account of the Social Contribution (Company Expense) tax code
Interim withheld income tax and social contributions paymentCreditInterim Tax Payment Account of the tax declaration master.Tax Declaration Master (tfgld1620m000)

 

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Step 4. Periodical withheld income tax and social contributions payment

If you proces the payment of the withheld income tax and social contributions declaration, LN creates the following postings:

AmountDebit/ CreditLedger accountDefined in session
Interim withheld income tax and social contributions paymentDebitInterim Tax Payment Account of the tax declaration master.Tax Declaration Master (tfgld1620m000)
BankCreditAccount selected for the transaction type used for the bank in Cash Management.

 

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