How to present withholding tax in Cash Receipt Journal?

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Posted on by Shang06

Hi,

So we had a collection from our customer

Sales Invoice: 30,000

Check Payment: 28,000

EWT: 2,000

How do we plot this in the Cash Receipt Journal, so when we print the Receipt, it will state that we received 28,000 and under the computation it will show:

Sales: 30,000

EWT: (2,000)

Amount Due: 28,000

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Shang,

So your Customer withheld 2,000 for Withholding Tax. In the Cash Receipts Journal you can record the 2,000 withheld as follows:

As for the printout, this will appear when you Post and Print.

Hope this helps.

Thanks,

Steve

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