Re: Withholding taxes

El vie, 26-05-2006 a las 11:21 -0600, ovaldez escribi=F3:
> I frequently have to enter payables to consultants and professionals,
> who charge me VAT, and whom I have to withhold income tax from.
> =

> A typical AP transaction looks like this:
> =

> Professional Fees:    1,000.00
> Value Added Tax:        130.00           <-- 13%
> Income tax withholding:         100.00   <-- 10%
> Accounts payable:             1,030.00
> =

> Should the Income tax withholding account be defined as an AP_amount
> account? That would require negative (credit) amounts to be entered.
> =

> Or how should these withholdings be handled?

I'd appreciate a tip on the above matter. Thanks.
-- =

Oscar A. Valdez



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