Product Updates 421 and 420: Improvements of the reversal withholding tax amount (Italian legislation)
previous product update, Exact Globe Next introduced a functionality that
creates withholding tax offset entries and reverse withholding tax offset entries.
When you have partially paid an invoice and the remaining outstanding has been written
off for discounts, bank charges, and other options, the withholding tax amount is
reversed proportionally. However, the withholding tax amount should be reversed
completely since there is no more outstanding amount for the invoice. For more information, see Product Updates 421, 420, and 419: XML file enhanced for withholding tax functionality (Italian legislation).
product update, if the invoice is partially matched and the write off option is
not Balance (for example, discount, bank charge, and others), the remaining withholding tax amount will be fully
reversed. However, if the invoice is partially matched and the write off option
is Balance, the withholding tax amount will be reversed proportionally.
value “WH tax sales retain”, “WH tax sales to deduct”, and “Withholding tax”
journal must be provided to generate the withholding tax offset entry.
This functionality is applicable only if the
outstanding invoice amount written off option is not Balance.
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