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Extended with-holding tax in FI-CA

Former Member
0 Kudos
456

Hi Folks,

There is a requirement to generate 1099 for the security deposits interest issued to the utility customers. We are implementing both standard ERP and IS-U solution in the same instance. As the vendor invoices related to Material Management doesn't support regular with-holding tax, finance team has configured Extended with-holding tax. I could not find any configuration related to extended with-holding tax in FI-CA. Does FICA support extended witholding tax or just the classic with-holding tax?

Please advise.

Thanks,

Santosh

1 ACCEPTED SOLUTION

Former Member
0 Kudos
186

dear santhosh,

FICA will support to post a with holding tax from your specification side we need to maintain with  holding tax settings at FICA level and mean time need to maintain with holding tax code at contract account level.

find the following menu path for making withholding tax settings.

Financial Accounting (New) - Contract Accounts Receivable and Payable - Basic Functions - Withholding Tax.

thanks,

honey...

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1 REPLY 1

Former Member
0 Kudos
187

dear santhosh,

FICA will support to post a with holding tax from your specification side we need to maintain with  holding tax settings at FICA level and mean time need to maintain with holding tax code at contract account level.

find the following menu path for making withholding tax settings.

Financial Accounting (New) - Contract Accounts Receivable and Payable - Basic Functions - Withholding Tax.

thanks,

honey...