Define Accounts for Tax Clearing
Dear all,
I have to Define Accounts for Tax Clearing but I don't understand business that use this account
Please give me a example about business that use this account
Thanks so much
Minhtb
Hi,
I would like to explain it with an examble (it is in India),
We have a tax element called Excise Duty which will be levied on all material sales. In india, there is a option to utilise the purchase related Excise Duties against the Excise duty payable on sales. For utilising this, we have to maintain all excise related records. To ensure the accounting of purchase related duties, companies are puting a control that the invoice verification (MIRO) can be done only if the incoming duty is
accounted.
At this place tax clearing accounts are used. Here at the time of accounting duty the tax clearing account will be credited and at the time of MIRO the tax clearing account will be debited. Hence, the balance is Zero.
Examble,
Procurement cycle,
1. Goods receipts (MIGO)
Dr. Inventory a/c
Cr. GR/IR Account
2. Excise duty (J1IEX)
Dr. Duty Input a/c
Cr. Tax clearing account
3. Invoice verification (MIRO)
Dr. GR/IR a/c
Dr. Tax clearing a/c
Cr. Vendor a/c
There is an another chance of creating a liability at the time of transaction will hit a tax clearing account and at the time of payment it will clear the tax account.
Hope it clears your doubt
Regards
A.Saravanan
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Dear all,
I configure J70 Extenal accounting.
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Please give me a example about bussiness scenanio that use this account.
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You can configure it with a GL account by using a T Code OB00.
Case - 1,
Rounding off difference means as per the country specific law, some of the taxes should be rounded of to the nearest rupees / appropriate currencies. Normally taxes are calculated as a percentage of the basic material value. For examble if the basic material value is Rs 1255, the tax rate say 4%, then the tax amount comes Rs 50.20. Most of the cases this tax amount should be rounded of to the nearest rupee, hence, tax amount should be Rs.50.00 and the Rs.0.20 should hit the rounding off difference account.
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Some of the companies are having a practice of paying payables with the rounding off rules. This rounding of in India could be from Rs.0.01 to Rs.10.00. For examble, there is a payable amount of Rs.125125.25 this can be rounded off to Rs.125125.00 or Rs.125130.00 while making payment. The balance amount should hit the rounding off difference account.
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Edited by: JSmithYahiya on Jan 19, 2012 5:46 PM -
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http://help.sap.com/saphelp_47x200/helpdata/en/01/a9b9a6455711d182b40000e829fbfe/frameset.htm
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Account for tax posting could not be determined
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I am trying to post an incoming invoice thru transaction ETRANSF. I get 2 errors which are
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for the first message please check the customizing in TA SPRO:
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Financial Accounting (New) -> Financial Accounting Global Settings (New) -> Tax on Sales/Purchases -> Calculation -> Define Tax Codes for Sales and Purchases
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Hi all,
I have to define Account for Rounding Differences
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Please give me a example about cash flow is relevant to this account.
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MinhtbHi,
To define this accounts use transaction code: OB00.
Clearing Diference Example.
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Under Payment and over payments applicable for vendors/Customers
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When you are clearing payment there residual payment and partial payment will be there
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Residual Payment :I have to Pay $100 but I paid 98 $2 will not show as a open item here under payment and over payment concept will come.
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02 Payment diff
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Step 3:
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Dr EXP A/C
Cr INC A/C
Payment received or paid
Entry should like this
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To
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If you need any further clarification please ask me
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Now, I have to define Accounts for Automatic Offsetting Entry,
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Here you are settong off the debit to every credit and credit to every debit transaction like open items such as GR/IR a/c.
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Defining Accounts for Automatic Offsetting Entry
Dear all,
From IMG: I Access the activity using the following navigation option:
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I'd like to ask a question: If I can define more items in column Account type/sp.GL ind? where I can do it?
Thank in advance
MinhtbHi
Based on Business Transactions u can assign the Alt Gl MRecords. Like Down Payments, Payment Requests etc.,
Shammi
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Hi,
I am facing a problem in determing a G/L Account for my taxes on sales/purchase of goods.
So i need to create a new G/L account for taxes and assign it to my chart of accounts.
plz. help me in doing the same.
thanking you.
Siddharth.Hi
You can create GL accounts Via FS00,when creating GL accounts via FS00 you create it with reference to your chart of accounts so you need not assign a GL to your chart of accounts.
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where i can configure GL accounts for tax differences. this is due to error in differed tax transfer amount in other than indian currency.
regards
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i am running S_AC0_52000644 - Tax Reports -> General -> Deferred Tax -> Deferred Tax Transfer (New) report for differed tax transfer. system is transfering education cess and SHES, it ignores basis. if run SM35 it execution FB05 with all details. finally it gives message Ex.rate diff.accts are incomplete for account 0001505560 currency INR.
regards
sree -
Define Accounts for Clearing Differences
Hi all,
I have to define type "Accounts for Clearing Differences"
But I don't understand type "Accounts for Clearing Differences"
Please give me a example about cash flow is relevant to this account.
Thanks so much
MinhtbHi,
take a look on these transactions Codes:
OBXK
OBXL
OBXI
Clearing Diference Example.
This is an Automatic Procedure Example: Your bank count some amount for Account movements. When you import your Bank DME with this payment done the system clear you payment and need to post this difference in any account.
Manualy you must enter in clearing transaction your account for this difference post.
Assign me points If I Help you.
Best Regards
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