TDS on Foreign payment
Hi All,
while doing invoice on foreign vendors system deducts tds on Fractions it is effect to my TDS filing in NSDL. how to roundoff TDS on Foreign payments.
We check that every thing is ok, but we are facing the problem at the of foreign invoices only.
Similar Messages
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Hi All
The scenario is given below:
1. Down payment of EUR 1000 done to a foreign vendor in Jan07 and TDS is deducted (say 22.44EUR inclusive of surcharge and ed cess.Amount in local curr-Rs 1122).Exchange rate on date of trans is-Rs50
Vendor ..........Dr 1000EUR (Rs 50000)
To Tds Payable 22EUR (Rs1100)
To Ecess Pay 0.44EUR (Rs22)
To Bank 977.56EUR (Rs48878)
2.J1INCHLN done for remittance challan on 05/02/07 when the exc rate is Rs 45 per Eur maintained in the exc rate table.Because of this entry passed is:
--TDS Payable ............Dr 1100
--TDS Ecess payable...Dr 22
To TDS Clearing A/c 1010
To exc rate gain A/c 112
3.Then bank challan updated and payment made to income tax authority for 1010.
4.Now invoice comes in the next month say20/02/2007 for EUR 2000 when the exc rate was Rs60
5 FB60 - Exp A/c ...............Dr 2000EUR (Rs 120000)
To Vendor..........1955EUR (Rs 117307)
To TDS Pay......... 44EUR (Rs2640)
To ECess pay.....0.88EUR (Rs53)
6 Down payment clearing done -F-54 on 20/02/2007
Vendor.......................Dr 977.56EUR (Rs48878)
Tds Payable................Dr 22EUR (Rs1100)
Ecess Pay.................Dr 0.44EUR (Rs22)
To Vendor ...............1000EUR (Rs 50000)
7 Now when we do J1INCHLN for this vendor.The foll entry is coming:
Amt in Doc curr(INR) Amt in local curr(INR)
--TDS Payable ............ Dr 1320 1540 (=2640-1100)
--TDS Ecess payable... Dr 26.40 31 (=53-22)
To TDS Clearing A/c.......... 1346.40 1346.40
To exc rate gain A/c.............. 0 224.60
There is a problem because of the exc rate conversion.
We have deposited what was there is TDS clearing acct(Total-Rs10101346.40 =Rs 2356.40) where as we have deducted(Rs 11222693-Rs1122=Rs 2693 as per point 1, 5 & 6).Even the TDS certficate shows amt of Rs2693 as paid and deducted.There is a discrepancy.
Kindly let me know the reason and what should be done to correct the same.
Points will be rewarded for help.
Thanks in Advance
Regards
RakeshHi Rakesh,
The liability towards TDS is the amount you have deducted in INR.You have to calcuate TDS based on INR_value and pay as such.
Here you have deducted Rs.2693 and have paid Rs.2356.40.The balance[ Excess deducted ] being 336.60[2693-2356.40] should be paid to the IT dept.
Pass the following entries and close the account as under::
1st entry: Dr::TDS clearing>336.60:::Cr:IT payable>336.60.[ The clearing acct.is now balanced]
The next entry > Dr::IT payable>336.60:::Cr--->. Bank:336.60 [upon actual payment]
This resolves the problem in full.
Regards,
Ramesh. -
Errors for foreign payments in the APP run
HI all
we have created new house bank for foreign payments for foreign vendors. The bank has been created for domestic payments and for foreign payment for the company code.
The domestic payment works fine and the international does not work. It can create payments and IDOCS in SAP but once it is received and it is marked as a DOmestic payment instead of a International payment.
we have tried to go through house bank config and I cannot find what we are missed out in the config.
Can some one help me to find out what we have missed out in the config?
Thnaks in advance
Best Regards
VenuHi Venugopal,
Please paste the log message here to find out what may be wrong with this issue..What is the error message.
As a wild guess, Please check your settings in FBZP>Payment Methods in Company code> Check the section Foreign Payments/Foreign Currency payments, whether all are allowed or not for your Payment method of Foreign payment.
Regards,
SAPFICO -
Payment Program F110 posts outgoing foreign payments to fx adj. a/cs
Hi,
When posting an outgoing foreign payment using F110, the system is posting the foreign exchange gain or loss to the FX-gain and FX-loss account respectively. But it is also offsetting this entry with a posting to the FX balance sheet adjustment account which should not happen. The FX adjustment account is to be used only during the month-end revaluation (F.05). The settings in OBA1 is correctly set to the FX-gain and FX-loss accounts u201C.
Where else could the problem be? How is the FX Adjustment account being picked up during the payment program.
Thanks.Thanks for your reply.
Yes, we currently run the revaluation program to reverse on the first day of the next month. There were some manual adjustments posted in June using FBB1which may be an issue. Normally, we run the revaluation program with "Balance Sheet Valuation ON" which has up to July created the reversal document also. In the August Revaluation run the reversal document was not created for the unrealised gain /loss. However, the JUne run ran ok and was reveresd out on July 1st. The incorrect foreign adjustment payment postings happened in July. -
Hi All,
I have gone through many threads but not able to find proper solution for a general scenario which will be requirement of many customer.
Scenario:
Is very simple. I have make Payment to Vendor on Acount ( Advance Payment) on which i need to deduct TDS.
As per TDS Manual nothing is mentioned how to manage this scenario.
While defining TDS code in WT window there are 2 options ( Invoice / Payment). If the payment option is selected and Payment is made nothing happens
I am aware i have to make AP downpayment for this and then make outgoing payment which unnecessaryliy increase one step for user.
Just want to confirm is there any direct way to apply TDS while making pyament on account.
Response will be appreciated.Hi,
3.6 Payment on Account
Navigation: - Banking Outgoing Payment TDS on advance payment can be deducted through outgoing payment based on u201CPayment on Accountu201D selection.
Points to remember:-
Vendor (Subject to Withholding Tax) should be selected.
WTCode of u201CPu201D type should be chosen.
u201CPayment on Accountu201D check box should be checked.
These are the lines from TDS add on manual -2007B if you make above settings then while posting the on account payment when you enter the amount in amount field in the header automatically the withholding tax fields are enabled and when you chose the category the witholding tax will be calculated and posted when you add the document
Please check it,This scenario is addressed by the manual
thanks
Md.nazeer Shaikh -
Hi Gurus,
What is the necessary configuration required for deducting TDS on down payment?
Kindly revert asap.
Thank YouHi,
Following link would give details
TDS on Down payments -: http://erp.ittoolbox.com/groups/technical-functional/taxware-l/tds-on-down-payments-sap-r3-788124
http://www.erpgenie.com/sapgenie/docs/FI-arapconcept.doc
http://www.purdue.edu/onepurduehelp/content/fi_ap_f_47_request_down_payment/wi/html/index.htm
Pls assign points as way to say thanks -
How to deduct tds on advance payment IN SAP
How to deduct tds on advance payment to vendors.
Hi Kishore,
You need to define the Extended Withholding Tax type based on payment. Assign WHT code to WHT type and complete the relevant configuration. Below link will help you to config WHT in SAP.
http://help.sap.com/saphelp_470/helpdata/en/e5/0781474acd11d182b90000e829fbfe/content.htm
Assign WHT type and code in vendor master data.
Standard SAP will start deducting WHT on downpayment.
Hope it helps.
Thanks,
Deepanshu -
Hello gurus!
I need to create one simple report from BKPF table which shows only accounting documents related to foreign payments.
Which filed in this or some other connected table contains some kind of indicator for foreign/domestic payments.
PS: I'm working for Croatian company so temporary I can do this by the currency (HRK = domestic / EUR = foreign) but ... this is only temporary solution until we get to EU
Thanks in advance
T.Hi
It depends what foreign payments you mean for you:
- U means foreign currency?
If it's so u should check which currency is assigned to the company code (T001-WAERS), and so get all payments with a foreign currency (BKPF-WAERS <> T001-WAERS)
- U means foreign customer/vendor
If it's so u should check which country is assigned to the company code (T001-LAND1), and so get all payments with foreign partner (having a different country in the master data, KNA1-LAND1 <> T001-LAND1 or LFA1-LAND1 <> T001-LAND1);
Just last thing: rember that:
BKPF-WAERS is document currency
BKPF-HWAER is company code currency
So the foreign payment should be a document where those fields are a different value,
Max
Edited by: max bianchi on May 27, 2008 3:22 PM -
DME for Foreign payments in Italy
Hello All SAP Gurus!!!
I am using program RFFOIT_FOR for configuring DME for Foreign payments in Taly.
But I am getting errors.
I need to update the UIC code in the DME file.
Please help.Hi
Thx for your prompt reply
I have already applied the note.
Now I want to populate the table
I need the list which contains countries and their UIC codes -
Hi Gurus,
I need some clarity in Vendor Foreign Payment.
We booked vendor invoice for $100 @ Rs.45
In our books we made payment of $100 that time rate is Rs 46, system automatically took Rs 1 to exchange rate fluctuation
Now when bank made the payment from our account, it debited our account with 47. In bank reco, we have to clear 47 with 46 amount in outgoing account, now how should system react in this case.
Please tell me what is the correct process.
Thank youUnfortunately, there is no clearing mechanism in this case.
The difference between 46 (your payment through F110) and 47 (uploading bank statement FF_5) cannot be cleared. However, you can post the document by crediting the Bank Main account and debiting the bank sub account. Then post a manual Journal to the amount of difference Rs.1 and then clear the sub-account.
If you find any other better way, please update the thread.
Thanks,
Ravi -
All,
When entering an invoice using transaction MIRO, we are getting the error "check whether data is required for foreign payments". Any idea what is causing this message? If we enter a CBI (central bank indicator) the invoice will post but this was not needed for 4.5. The vendor, plant are in the same country (Spain).
This works in 4.5 and the CBI is not required.
Ideas?
Regards,
SandraHi Sandra
Can you please check whether the OSS note 519945 is relevant for you.
assign points, if useful
S Jayaram -
DMEE - Foreign Payments - Denmark - bulked debit
Hello together,
Currently I am facing a problem with foreign payment with the DMEE tree: DK_PAYMUL_DOMESTIC
I copied it and use the fromat tree also for Foreign payments.
The problem which occurs right now is, that the output file is not correct.
The bank does not accept bulked debit in foreign payments.
As we want to pay 3 invoices for one vendor we need to have three different LIN and SEQ segments.
Right now it is bulk debited and handled like:
LIN+1
SEQ++1
SEQ++2
SEQ++3
But the bank requires an output file which has for each payment a seperate LIN and SEQ segment:
LIN+1
SEQ++1
LIN+2
SEQ++1
LIN+1
SEQ++1
I alread tried different sortings in the header but none referrs to the required structure.
I thought about pay each invoice seperatly (in IMG and vendor). Thus we can devide it by the sorting via XBLNR or the DOC1R. But as I do the payment run, the file is now incompleted.
Has anyone already faced such a problem?
Thanks in advance.
KR
- Matthias -
Hi Gurus
How to make foreign payment thru APP,
what is Stadard documents type for ASSet Accounting
what is the steps for prapare Business Bluprints
pls urgent
thanks in advance"what is the steps for prapare Business Bluprints"
1. Sit down
2. Write Business Blueprint
3. Shout: 'I am ready' - when finished
4. Go out to drink some beers... -
TDS Quaterly return for Foreign Payments
Hi,
For Withholding tax quarterly returns we use t.code j1inqefile, but this does not generate quarterly returns for W.Tax u/s 195.
Please advise which t.code can be used for section 195.
Thanks and regards,
Achal rajpalHi Rakesh,
The liability towards TDS is the amount you have deducted in INR.You have to calcuate TDS based on INR_value and pay as such.
Here you have deducted Rs.2693 and have paid Rs.2356.40.The balance[ Excess deducted ] being 336.60[2693-2356.40] should be paid to the IT dept.
Pass the following entries and close the account as under::
1st entry: Dr::TDS clearing>336.60:::Cr:IT payable>336.60.[ The clearing acct.is now balanced]
The next entry > Dr::IT payable>336.60:::Cr--->. Bank:336.60 [upon actual payment]
This resolves the problem in full.
Regards,
Ramesh. -
TDS for down payment is not comming in F-48
HI,
I am working on TDS and it is working fine in F-43 for vendor purchases. A pop is comming here for both the invoice and advance, I have removed the advance and TDS was calculating automatically.
But when I check it in advance payment in F-48, I am unable to get the TDS pop p and no automatic calculation is done.
I have checked the tax code and tax keys. I have checked the vendor master also every thing seems to be ok.
Please suggest me were I should check it.
Also please assist.
Regards,
Shilpa.Hi,
As long as payment withohlding tax code is coming into pop up during invoice then it must have assigned to the company code.
There could be only one reason...
Check field status of the GL account attached to Special GL if Taxes information are optional.
Regards,
Chintan Joshi
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