How to process payment to vendor and with-holding tax vouchers

Discussion in 'Accounting Software' started by kwaku emm, Oct 3, 2016.

  1. kwaku emm

    kwaku emm

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    In my country when a purchase is made, an amount of with-holding tax is taken from the total amount to be paid to vendor. The deducted amount is then paid to the tax agency. 2 payment vouchers are created for both entities. my questions are
    1. Are they 2 transactions or just a single transaction.
    2. How do I record such a transaction?
    3. Should the two payment vouchers be given the same number? or different numbers?
    Thanks.
     
    kwaku emm, Oct 3, 2016
    #1
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