About Withholding Tax

SunSystems Withholding Tax calculates and posts withholding tax on selected accounting transactions according to user-defined tax rules and thresholds.

Withholding Tax calculates the tax to withhold and generates the journal transactions required to post these values. Once the tax transactions have been posted the payments can be produced. If the withholding tax transactions are posted back to the source account, these transactions will have adjusted the amount due for payment or collection on the account either at invoice posting point or at payment posting point automatically.