What is WHT in Financial Module and What would be tbe acc entry for the same?

What is WHT in Financial Module and What would be tbe acc
entry for the same?

Question Posted / dinesh

3 Answers
12485 Views
Oracle, I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

What is WHT in Financial Module and What would be tbe acc entry for the same?..

WHT is withholding tax in oracle terms.
WHT is used to deduct and withhold a part of the amount
from the supplier's invoice on behalf of particular tax
authority for the purpose of remitting to them (tax
authority) later.

Is This Answer Correct ?

10 Yes

0 No

What is WHT in Financial Module and What would be tbe acc entry for the same?..

Answer / swathi

WHT is withholding tax in oracle terms.
You hold the tax part while you enter your invoice and pay
it to the tax authority. U r tax authority should be
defined as your supplier.

This may happen when u have to pay purchase tax to the tax
authority, and wanted to withhold it.

withholding tax a/c dr
payables a/c cr

Is This Answer Correct ?

6 Yes

4 No

What is WHT in Financial Module and What would be tbe acc entry for the same?..

Answer / rathore

WHT (WithHoldingTax)is used to deduct @ of particular % over
foreign loan under scheme like Buyers Credit Financing. at
the time of availing loan.

Is This Answer Correct ?

0 Yes

0 No

Post New Answer

More Oracle Apps Financial Interview Questions

Hi How to transfer the funds one bank to another bank. Ex: i am using bank called citi bank and i want make the paymeny immediately and my bank balance is 0.So i have another bank account called HDFC and now i wnt to transfer funds HDFC to CITI bank.is this possible in oracle applications? or when i defined MO i need to implement bank funds transfer moudle.Plz clarify my doubt?.

2 Answers Oracle,

In prepare mass additions window what are available Q names?

2 Answers

what is the difference between bonus reserve and bonus expense

0 Answers CSC, EE Limited,

What is GL Consolidation Elimination Process in Oracle Apps Functional?

2 Answers CTS,

What is Auto accounting feature in AR ?

1 Answers Unisys, Wipro,

what is the meaning of api ?what is the use of it ?

3 Answers

What are all the differences in 11i environment and R12?

5 Answers

What are the different ways for automatic closure of a Manually Created Purchase Order if the item selected for the Purchase Order is an Outside Processing Item and the Purchase Order is linked to a Work Order?

1 Answers Apps Associates,

Define the Multi Org ? What is difference between 11i and 12i Multi Org Structure ?

2 Answers

Grouping Rules and Line Ordering Rules

1 Answers

what is the profile options

2 Answers

Hi all, I'm confused when it comes the financial handling of transactions. What is the difference between an accounting entry and a journal entry in oracle eBS.

2 Answers Copac,

For more Oracle Apps Financial Interview Questions Click Here