E1: 76C: Auto-Withholding Agent Calculation in Accounts Receivable for Colombia Localization Self-Withholding Agents
(Doc ID 2484139.1)
Last updated on FEBRUARY 04, 2019
Applies to:JD Edwards EnterpriseOne Sales Order Management - Version 9.2 and later
Information in this document applies to any platform.
Currently, Auto-Withholding Calculation R76C0005, uses the Tax Areas Relationship program (P76C0005), to calculate tax. The Processing Option for Auto-Withholding Calculation report (R76C0005), is used to calculate the Auto-Withholdings of an invoice and store them as Tax Explanation Code (VT) lines in the F03B11 table.
This functionality is effective for a company that is not a self-withholding agent where customers may be required to withhold tax from payments that they make to a customer. The system automatically calculates the withholding tax that the customer is expected to withhold and records the values as VT entries on the F03B11 record.
When the company is a self-withholding agent customers do not withhold tax on payments to the company. Instead, the company handles the tax, pays the tax.
Provide the functionality to calculate and record self-withholding/auto-withholding for self-withholding agents. The calculations occur but no entry is written to the F03B11 record to reduce the invoice total.
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