Extended with-holding tax in FI-CA

[Former Member]

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

[Former Member · Accepted solution]

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...