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File - Creditor - With Hold

You use this tab to enter withholding tax or prescribed payments details for a creditor.

  1. Add a new creditor or open an existing one.

Refer to "Adding a New Creditor" or "Updating a Creditor".

  1. Select the With Hold tab.

Micronet displays the Creditor Update screen - With Hold tab.

  1. Complete the following fields:

 

Field

Value

 

Nature of Activity

 

 

Tax File Number

Enter the creditor's tax file number, if applicable.

 

ABN

Micronet displays the Australian Business Number entered on the Creditor Update screen - Creditor tab. If you don’t enter an ABN, when making payments Micronet prompts you to withdraw the tax percentage entered in the next field as a Tax Withholding amount.

If you don’t know the creditor’s ABN, enter TBA to stop Micronet from withholding tax

 

Tax Percentage

Enter the tax percentage to withhold if no ABN is entered.

 

Certificate Number

If the creditor has a tax exemption certificate, enter the certificate number.

 

Date From / To

Enter the dates that the tax exemption certificate is valid, if applicable.
  1. Select FILE | SAVE.
  1. Optionally, if you are using the Micronet Distribution System (MDS), update the changes to the supplier in MDS by making sure that the EDIT | UPDATE SUPPLIER menu option is checked.

For more information, refer to "Creditor Update Screen - Menu Options".