Nothing Special   »   [go: up one dir, main page]
Scribd Logo
Upload

Welcome to Scribd!

  • 281 views

    VAT CONFIGURATION For SA

    Uploaded by

    Mohammed Nawaz Shariff
    The document discusses VAT configuration in SAP. It provides steps to define tax codes, accounts, procedures and calculation rules. This includes assigning tax codes to countries, defining input/output tax accounts and the process for posting vendor invoices.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    VAT CONFIGURATION For SA

    Uploaded by

    Mohammed Nawaz Shariff
    281 views28 pages
    The document discusses VAT configuration in SAP. It provides steps to define tax codes, accounts, procedures and calculation rules. This includes assigning tax codes to countries, defining input/output tax accounts and the process for posting vendor invoices.

    Original Description:

    Original Title

    VAT CONFIGURATION for SA

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document discusses VAT configuration in SAP. It provides steps to define tax codes, accounts, procedures and calculation rules. This includes assigning tax codes to countries, defining input/output tax accounts and the process for posting vendor invoices.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    281 views28 pages

    VAT CONFIGURATION For SA

    Uploaded by

    Mohammed Nawaz Shariff
    The document discusses VAT configuration in SAP. It provides steps to define tax codes, accounts, procedures and calculation rules. This includes assigning tax codes to countries, defining input/output tax accounts and the process for posting vendor invoices.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 28

    VAT CONFIGURATION (SA)

    Tax on Sales and Purchases

    Taxes on sales and purchases are levied on every sales transaction in accordance with the principles
    of VAT. This applies to input and output tax, for example.
    Input tax is calculated using the net invoice amount and is charged by the vendor. Output tax is
    calculated using the net price of products and is charged to the customer.
    Companies can offset input tax against output tax, paying the balance to the tax authorities. Tax
    authorities can set a nondeductible portion for input tax which cannot then be claimed from the tax
    authorities.

    The Accounts Receivable, Accounts Payable, and General Ledger application components support
    the calculation and posting of tax as follows:

    • The tax amount can be determined upon request


    • The tax amount is checked by the system at document level
    • The tax amount is posted to the tax accounts automatically
    • A tax adjustment can be performed automatically, if required, for cash discount postings and other
    deductions

    These transactions are controlled using Customizing, whereby the following specifications need to
    be made:
    • To determine the tax amount, the system calculates a base amount, the composition of which
    varies from country to country. You determine whether the base amount for tax calculation is to
    include the specified cash discount amount. This information must be defined for each company
    code.

    • To enter and determine taxes automatically, a tax code is required, which will include the tax rate
    prescribed by law.

    • The tax amount is generally posted automatically. For posting, specify the tax accounts to which
    the individual taxes are to be posted.

    • In a G/L account master record, you can specify whether the account is a tax account, and if so,
    which tax type (input tax or output tax) can be posted to the account. For all other G/L accounts, you
    can use the master record to specify a tax rate and a tax type, or specify that it is not tax-relevant.

    1 NAWAZ
    INPUT TAX
    • Excise Duty Paid • CESS Paid • VAT Paid • CST Paid

    OUTPUT TAX
    • Excise Duty Payable • CESS Payable • VAT Payable • CST Payable

    DEFINE ACCESS SEQUENCE

    PATH: SPRO> Financial Accounting (New)> Financial Accounting Global Settings (New)> Tax on
    Sales/Purchases> Basic Settings> Check Calculation Procedure> Define Access Sequence

    Transaction Code: OBYZ

    2 NAWAZ
    DEFINE TAX ACCOUNTING KEYS

    PATH: SPRO> Financial Accounting (New)> Financial Accounting Global Settings (New)> Tax on
    Sales/Purchases> Basic Settings> Check and Change Settings for Tax Processing

    Click on NEW ENTRIES or can Choose, Standard Acc keys MWS, VST

    3 NAWAZ
    DEFINE TAX CONDITION TYPES

    PATH: SPRO> Financial Accounting (New)> Financial Accounting Global Settings (New)> Tax on
    Sales/Purchases> Basic Settings> Check Calculation Procedure> Define Condition Types

    Transaction code: OBYZ

    4 NAWAZ
    You can Select the Standard Condition types

    Or Click on NEW ENTRIES to create New Condition Types

    5 NAWAZ
    6 NAWAZ
    7 NAWAZ
    8 NAWAZ
    9 NAWAZ
    10 NAWAZ
    DEFINE TAX PROCEDURE

    PATH: SPRO> Financial Accounting (New)> Financial Accounting Global Settings (New)> Tax on
    Sales/Purchases> Basic Settings> Check Calculation Procedure> Define Procedures

    Transaction code: OBYZ

    11 NAWAZ
    12 NAWAZ
    ASSIGN COUNTRY TO CALCULATION PROCEDURE

    PATH: SPRO> Financial Accounting (New)> Financial Accounting Global Settings (New)> Tax on
    Sales/Purchases> Basic Settings> Assign Country to Calculation Procedure Country specific

    Assign the Country Calculation Procedure

    DEFINE TAX CODES FOR SALES & PURCHASES

    PATH: SPRO> Financial Accounting (New)> Financial Accounting Global Settings (New)> Tax on
    Sales/Purchases> Calculation> Define Tax Codes for Sales and Purchases (Country Specific)
    Transaction Code: FTXP

    13 NAWAZ
    14 NAWAZ
    15 NAWAZ
    16 NAWAZ
    17 NAWAZ
    18 NAWAZ
    19 NAWAZ
    20 NAWAZ
    21 NAWAZ
    22 NAWAZ
    23 NAWAZ
    24 NAWAZ
    DEFINE TAX ACCOUNTS

    PATH: SPRO> Financial Accounting (New)> Financial Accounting Global Settings (New)> Tax on
    Sales/Purchases> Posting> Define Tax Accounts

    Transaction Code: OB40

    25 NAWAZ
    26 NAWAZ
    POSTING VENDOR INVOICE

    F-43

    27 NAWAZ
    28 NAWAZ

    You might also like