From this product update onwards, users can now multi-select invoices to access the withholding entries. Printing the withholding certificate can now be by invoice or by payment.
This enhancement is applicable to the Thai legislation, and in a single tax environment or multiple tax environments.
The menu paths that are affected by this enhancement are as follows:
The following enhancements have been made to the following screens:
In the Assessment for invoices screen, the Reporting date field has been added. This field allows users to select a different date for the Date and Reporting date fields when creating the withholding tax entries. By default, the default login date of Exact Globe Next is displayed at the Date and Reporting date fields.
Multiple invoices can be selected in the Assessment for invoices overview screen via the Finance à VAT/Statistics à Withholding tax à Assessment for invoices menu path. To select multiple invoices, click an invoice line, and then press the CTRL key while clicking the other invoices to include them in the withholding tax entry. After selecting the relevant invoices, you can click the Start button to create the withholding tax entry. However, the Start button will only be enabled when the selected invoices share the similar creditor, creditor GL account, and currency.
After clicking the Start button, the selected invoices will be grouped by creditor, creditor GL account, and currency, and will be displayed in a single line with the summed total basis. The number of the withholding tax codes that can be defined for the payment line depends on the number of the tax codes defined in the General ledger settings screen. However, for batch invoices with different withholding percentages, the withholding process has to be done separately, as the system is unable to identify which withholding percentage that the invoices should be allocated to.
The following example illustrates how the entries are created, and are displayed when the Group by option and the Assessment type field have been defined.
Entry
1
2
Date
01/03/2017
02/03/2017
Creditor
Creditor A
Your ref.
P1
P2
Currency
Thai Baht
Amount
1070.00
2140.00
VAT code
SV7 (7%)
V07 (7%)
3
4
06/03/2017
08/03/2017
P3
P4
Euro
3210.00
214.00
In the Assessment for invoices overview screen, the purchase journal entries will be displayed as follows:
Note: Entry 4 is not displayed in the overview screen as the currency used in the transaction is Euro, and is not the default currency.
In the Assessment for invoices screen, upon clicking the Start button, the purchase journal entries will be displayed as follows:
The total invoice amount is then displayed in the Invoice amount column.
In the Assessment for prepayments screen, the Reporting date field has been added. This field allows users to select a different date for the Date and Reporting date fields when creating the withholding tax entries. By default, the default login date of Exact Globe Next is displayed at the Date and Reporting date fields.
The Group by option has been added in the Certificates screen. This option allows users to display the entries and print the withholding tax certificate by invoice or payment. By default, Invoice is selected.
The entries will be displayed according to the options selected at Group by and Assessment type.
Creditor B
P1 (Service01)
P2 (Rental01)
P3 (Service02)
Prepayment 1
Prepayment 2
-500.00
-300.00
Assessment 1
Assessment 2
Entry 1 and Entry 3
Entry 2
Withholding tax
3%
5%
120.00
100.00
Prepayment
15.00
Payment 1
Payment 2
A
B
Bank reference
Payment 1 - Service
Payment 1 - Rental
-4160.00
-2040.00
Group by
Assessment type
Invoice
Payment
When Invoice is selected at Group by and at Assessment type, the following entries will be displayed:
Purchase journal
When Payment is selected at Group by and Invoice is selected at Assessment type, the entries will be matched and displayed as follows:
When Prepayment is selected at Assessment type, the Group by option will be disabled, and the following entries will be displayed:
All
When Invoice is selected at Group by and All is selected at Assessment type, the following entries will be displayed:
Purchase journal and Prepayment
When Payment is selected at Group by and All is selected at Assessment type, the following entries will be displayed:
Payment and Prepayment
Note: When Payment is selected at Group by, all invoices with matched payments will be printed in a single withholding tax certificate.
The total invoice amount is displayed in the Invoice amount paid column.