Transaction entry

To complete a transaction entry, you need to create an invoice, create a payment, review the withholding tax lines and then create a receipt.

Invoice creation

Here are the steps to create an invoice:

Access the Navigator menu and go to Payables.
Select Invoices and choose Create Invoice.
Enter the necessary details for the invoice header and line items.
In the User-Defined Fiscal Classification field, input the predetermined value used for withholding tax.
Validate and account the invoice.

Here are the steps to create payment:

From the Navigator menu and select Payables.
Choose Payments and click on Create Payment.
Pay the invoice using the payment creation process.
In the Regional Information section, specify the withholding tax amount paid on behalf of the supplier.
Select Payments for Israel from the Regional Information field to display the withholding amount paid by the bank field. This information will also be included in the withholding tax reports for Israel.
Observe that the payment amount will be lower than the full invoice amount due to the withholding amount. Account the payment accordingly.

Here are the steps to review the withholding tax lines:

Re-query the invoice in the system.
Review the withholding tax lines that have been created.
- There should be one line for withholding tax at a specific rate (e.g., 20%) based on the percentage entered in the tax certificate for the supplier site.

Here are the steps to create a receipt:

Go to the Navigator menu and navigate to Receivables.
Select Accounts Receivable and choose Create Receipt 21.
Create a receipt and manually apply it to the relevant invoice.
If the receipt is paid by check, enter the bank, branch, and account number in the customer region.
In the Regional Information section, select Receipt Information for Israel to enter the check number. This information will be included in the Receipt Report for Israel.