Hi, do you support witholding tax which are very common in Europe ( Italian Ritenuta d'Acconto , etcc..) ?

Question asked by Gianluca Mezzina 11 years ago

Hi, I need to fix a problem for my local taxation schema in Italy and
I cannot get it to work in ClearBooks

Item 1:..............................................EUR1000.00
Item 2:..............................................EUR2000.00

Subtotal............................................ EUR3000.00

VAT (21% applied to Subtotal):........ EUR 630.00
Invoice total (Subtotal+VAT):..........EUR3630,00

Witholding TAX (-20% of Subtotal):.- EUR600.00

Net Pay (Invoice total - WithLd tax): EUR3030.00

My problem is that in this situation VAT needs to be applied after the
Subtotal but BEFORE Witholding Tax.

Can you please help ? How can I do this in ClearBooks? Thank you.

Gianluca Mezzina

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Shahriyar Faruk

208 entries

Hi Gianluca,

Yes, we do support witholding tax. You need to head to Setttings > Toggle Features and click the accounting link, please view screenshot:

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Once this has been toggled on, you will need to create an account code for withholding tax. Please enter the account name, type, associated VAT rate, show in sales lists, WHT rate and the WHT Account.

file

Once the account code has been created, you will need to create an invoice with the account code selected in the account field.

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This should then apply the WHT rate to the invoice, please view this screenshot to view the end result.

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Hope that answers your question above.

All the best,

Shaz

10 years ago

Hi, do you support witholding tax which are very common in Europe ( Italian Ritenuta d'Acconto , etcc..) ?

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