We created
SIERRA Xero app
Sierra is just an automation tool. You can use it to auto-create different types of bill based on different conditions.
Use Case - Malaysia LHDN WHT:
Reference Link - LHDN WHT
Handling Withholding Tax for purchase of software & services from foreign entities like Facebook Ads, Google Ads, Zoom, Xero, Bitrix24 and many more.
Use Sierra to automatically create a withholding tax bill when an expenses claim is submitted. Sierra will automatically apply a 10% royalties and create a bill in Xero. Proceed to use e-WHT to payment payment, your Xero bank recon will automatically match WHT bill, so everything is traceable, transparent and you can skip using worksheets anymore. Use Xero account transaction report and payable Invoice details report to manage your reporting.
Using Sierra to handle withholding tax (WHT)
If you have many recurring or one time payment to foreign entities that incurr withholding tax, managing withholding tax payments to LHDN is important to ensure compliance, avoid late penalty and ease of audit & tax process. Example of transaction that incurred withholding tax are subscription to Zoom, Facebook Ads, Google Ads, Xero, Bitrix24, GCP, DigitalOcean and many more.
Our approach is designed to ease reconciliation and to ensure every payment made via e-WHT automatically reconciled to the WHT bill that was automatically created by Sierra.