• Price reductions non PO related
• Goods procured and paid for without a PO, subsequently returned
• Agency commissions from advertising agencies
• Special schemes announced for quantity discounts
• Cancellation of travel tickets post payment.

It is required to account for these credit notes through direct financial accounting.

Receive Credit note from Vendor

Pass the following entry for the credit note (when service tax credit is availed):

Vendor a/c Dr
Expense a/c Cr
Service tax Credit Receivable a/c Cr
Education cess on Service tax Receivable a/c Cr

Pass the following entry for the credit note (when service tax credit is not availed):

Vendor a/c Dr
Expense a/c Cr

Release the voucher from hold to enable deduction from subsequent payments
If there are no subsequent payments to be made, liaise with vendor to receive remittance for amount debited to vendor

These documents can be used for power user training or end user training in the final preparation phase during implementation.

These documents help you to understand how to run transactions in SAP and complete your business process. These documents are very helpful for the entire sap user even if they are new to SAP screens.

This document cover the following business process in New GL

Enter GL account document for ledger group
Enter general posting for ledger group
Enter general posting for ledger group
Display /change items (new)
Foreign currency valuation of open items
Balance carry forward (new)
Financial statement
Financial statement actual/actual comparison
Financial statement plan/actual comparison
GL account balances (new)
Structure account balances
Clearing currency specification

This document is available for download ! Click here to know more and Buy Now !

SAP New GL End User Document

[Product Details...]

Withholding tax is applicable in few countries. Some of the countries which have withholding tax are United Kingdom, Slovakia, Turkey, Argentina, Brazil, Chile, Colombia, Mexico, India, Philippines , Thailand and South Korea. SAP has given an excellent solution to map the withholding tax scenario.

Withholding tax is an Income tax which is deducted at the source of the revenue. The party that is subject to tax does not remit the withholding tax to the tax authorities himself.

In any business transaction there are two parties involved. One is the customer and another is the vendor. A customer is authorized to deduct withholding tax for services rendered by the vendor. When the vendor raises the invoice on the customer, the customer deducts the withholding tax as per the rates specified by the tax authorities and pays the balance money to the vendor.

The tax deducted by the vendor is remitted to the tax authorities on specified due dates. The vendor gives a Withholding tax certificate to the customer for the withholding tax deducted.

The customer can claim this withholding tax (as advance income tax paid) in his annual returns to Income tax authorities. In some countries (like India) the withholding tax is deducted on Invoice or payment whichever is earlier. Thus when an advance is paid to the vendor the customer is required to deduct withholding tax o n the advance payment.

When the Vendor submits an Invoice the customer is now required to deduct tax on the Invoice amount reduced by the advance amount.

To calculate pay and report the withholding tax, the SAP system provides two
functions:-

Classic Withholding tax
Extended Withholding tax

Extended Withholding tax includes all the functions of classic withholding tax; SAP therefore recommends the use of extended withholding tax.

This document will cover the Extended withholding tax functionality.

This document is available for download! Click here to know more and Buy Now!

Withholding Tax Configuration Document

[Product Details...]

 No of T Code Distribution with Module / Business role is given below. You will find organized list of all the these t code and description.

This Document is available for Download ! Click below to know more and Buy Now!

SAP FI CO Authorization Matrix