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Account — Withholding tax

The Withholding Tax account is a built-in account in Manager that is automatically added to your Chart of Accounts when you create at least one withholding tax receipt. This guide explains how to rename this account and adjust its settings to suit your reporting preferences.

Accessing the Account Settings

To rename the Withholding Tax account:

  1. Go to the Settings tab in the left navigation menu.
  2. Click on Chart of Accounts.
  3. Locate the Withholding Tax account in the list.
  4. Click the Edit button next to the account.

Editing Account Details

In the Edit Account form, you can modify the following fields:

Name

  • Description: Enter a new name for the account if you wish to change it from the default Withholding Tax.

Code

  • Description: If desired, enter a code for the account to assist with organization and reporting.

Group

  • Description: Select the group under the Balance Sheet where this account should be presented.

Saving Changes

  • After making your changes, click the Update button to save them.

Note: The Withholding Tax account cannot be deleted because it is essential for managing withholding tax receipts.

Additional Information

For more details on handling withholding tax receipts, see the Withholding Tax Receipts guide.