Processing Japanese Withholding
This section provides an overview of Japanese withholding, lists prerequisites, and discusses how to generate the Withholding Summary Sheet.
|
Page Name |
Definition Name |
Usage |
|---|---|---|
|
WTP2_RUN_WTP2_001 |
Generate the summary sheet for the withholding report by class. |
To meet one of the Japanese income tax reporting requirements, PeopleSoft Payables provides a supporting summary sheet report (WTP2_001) corresponding to the year-end Japan Withholding Report (APX8025), which is printed per supplier. The summary sheet has both detailed and summarized information for the applicable withholding transactions that are processed (paid) in the PeopleSoft Payables module.
Information includes payment and withholding amount summarized by:
Set of withholding classes defined for each reporting line.
Supplier category.
Supplier.
Each summary has a subtotal line indicating the number of payments made, total payment amount, and total withholding amount. The lines for categories, defined classes, and report totals also display the number of payees.
Because this report is a summary sheet attached to the Japan Withholding Report, every step that must be completed for the Japan Withholding Report also is a prerequisite for the summary sheet. All transaction information used in the summary sheet is based on the detailed information used in the Japan Withholding Report. You can select a portion of the report's information and then output a partial summary sheet, but you cannot include any additional transactions that are not in the report.
To produce the Japan Withholding Report and its summary sheet:
Set up your withholding environment.
Note that the withholding report definitions you make on the Report Definition 1 page are a prerequisite for generating the withholding summary sheet.
Register withholding (create voucher).
Create payments.
Post payments.
Post withholdings.
Run the Withholding Reporting process.
Produce the Japan Withholding Report (not required).
Create the summary sheet.
You must run the Withholding Reporting process before you can produce the Japan Withholding Report. Because the summary sheet is calculated based on the information shown on the Japan Withholding Report, the Withholding Reporting process is also required to create the summary sheet. Consequently, the summary sheet cannot include any transaction that is not processed for the Japan Withholding Report, but it is possible to produce the report for a subset of this information.
Important! When there are more than two lines in one voucher and withholding tax is applied to both lines using the gross amount (that is, when the Withholding Basis Amt Override field is blank), the summary sheet double-counts the gross amount in the Payment Amount field. If you want to automatically calculate withholding tax based on the line amount, make sure you have the correct amount in the Withholding Basis Amt Override field on the voucher.
Use the Withholding Report by Class page (WTP2_RUN_WTP2_001) to generate the summary sheet for the withholding report by class.
Navigation:
Field or Control |
Description |
|---|---|
Withholding Report ID |
Select the Withholding Report ID created in the Report Definition component. |
Withholding Entity |
Select the entity whose transactions are included in the report output. |
From Payment Date |
Select the date for which the report should begin the output of data. Note: This is the date a payment was made to a supplier for whom an amount was withheld, not the date a payment was made to the withholding entity. |
To Payment Date |
Select the date for which the report should end the output of data. |
Note: If you are generating this summary sheet with the withholding report (per supplier), the date range must be from the first day of the accounting period you specified on the Withhold Report page to the last day of the same accounting period.
All payment and withholding amounts are converted into the currency defined in the withholding entity, using the exchange rate type defined during the Withholding Posting process.
Important! The currency used in this report is that of the currently effective, single currency code defined for the withholding entity. If there were more than two currencies used to post withholding transactions for the same withholding entity during the selected period of the report, amounts of all transactions that were posted in a currency different from the currently effective currency of the withholding entity do not appear on this report.