Defining Account for Rounding Differences

Dear all,
I configure J70 Extenal accounting.
I have to Define Account for Rounding Differences but I don't understand how to use this account
Please give me a example about bussiness scenanio that use this account.
Thanks so much
Minhtb

Hi,
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.
Case - 2.
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.
The same things is applicable for  receivables also.
Over/under payment GL can be configured by using T Code OBXL.
Rounding off difference amount should be a P & L account and the debit / credit will hit the profit / loss of a business directly .
Hope it clears your doubt
Regards
A.Saravanan.

Similar Messages

  • Define Account for Rounding Differences

    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.
    Thanks so much
    Minhtb

    Hi,
    To define this accounts use transaction code: OB00.
    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.

  • 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
    Minhtb

    Hi,
    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

  • Defining Accounts for Materials Management

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    Hi,
    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.
    The same things is applicable for receivables also.
    Over/under payment GL can be configured by using T Code OBXL
    There is an another use, for details see the below link,
    http://help.sap.com/saphelp_47x200/helpdata/en/01/a9b9a6455711d182b40000e829fbfe/frameset.htm
    There may be some more reason where you need to do this configuration,
    Disc. difference
    Incorrect cash discount rate
    To be paid without deduction
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  • Defining Accounts for Automatic Offsetting Entry

    Dear all,
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    Hi
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    I am unable to activate Rules and assign accounts in TCode OBWW (Define accounts for with holding tax to be paid over) as the screen is greyed out.
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  • Define Accounts for Overpayments/Underpayments

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    Hi,
    Under Payment and over payments applicable for vendors/Customers
    I have to pay $ 100 but I paid 98 this is a under payment for me it is a gain that why create account under incomes
    I have to pay $ 100 but I paid 102 then is a overpayment $2 is a overpayment it is a expenditure crate accounts for Exp
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    T.Code: OBBE create
    Rcd       DES
    02     Payment diff
    Save
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    Vendor A/C $ 100
       To
          Cash/Bank 98
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    If you need any further clarification please ask me
    If it is use full Please assign points
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      Shiva

  • Define Accounts for Automatic Offsetting Entry

    Dear sir,
    Now, I have to define Accounts for Automatic Offsetting Entry,
    but I dont know what is it? Can you tell me its function and give me some examples and its account numbers.
    Thank you very much.
    Faithfully,
    Hangvt

    Hi,
    You can do the configuration for "Off set entry in t.code"OBYC" integration between MM and FI, Transaction key is "GBB".
    If you double click on GBB thenyou need to give chart of accounts and then you need to assign GL accounts based on Valuation Class for Material.
    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.
    Hope understood and reward me if you are cleared.
    Thanks,
    Vasu..

  • 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
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    Hope it clears your doubt
    Regards
    A.Saravanan

  • Define accounts for Sales tax

    Hi all,
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    SPRO-> Financial accouting->Financial Global settings-> Tax on Sales/purchases-> Posting-> Define Tax accounts.
    I have already defined one G/L account for the Output tax (MWS) and now I want to define one more G/L account. But, It is not having any option to do so.
    Please help me. <b>I will award points</b>.
    Thank you,
    SONY

    hi sony,
    you may  just copy one itself and name it differently.
    Award points if it works for you
    Best  Regards,
    R.Srinivasan

  • Defining Accounts for Bill of Exchange Transactions

    Dear all,
    I haven't understood yet about business and accounting process in Transactions BDS, BIK, DSK, INK.
    Please give me a detail example
    Thanks so much
    Minhtb

    Hi,
    These are various transactions to which automatic postings to the corresponding GL accounts happen.
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  • Defining Accounts for Automatic Tax Payable Transfer Posting

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    Please give me a detail example about business that use this account
    Thanks so much
    Minhtb

    Hello,
    This scenario applies at month end.
    Say during the month you have posted payables are receivables resulting in the following balances on your tax accounts:
    Input tax account: 10.000 Dr
    Outpux tax account 12.500 Cr
    When you prepare your tax return at month end with report "Sales Purchases tax returns", it will print out all if your input and output tax transactions, detailing the total balances mentioned above.
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    Cr Tax payable account 2.500
    in other words, the input/output tax accounts are zero and the remaining (payable) balance is offet to a special clearing account, the "tax payable account". This account is then cleared against cash as part of e.g. bank processing when the payment is made and that ends the process.
    hope this clarifies, please do not forget to assign POINTS if this answers your question.
    Thanks
    Rene

  • Rounding difference

    Dear  Gurus,
    Can some one tell me how the rounding for works.
    Financial Accounting ->AR/AP->Business Transaction->Outgoing Payments->Define Account for Rounding off difference.
    My client require the following scenario.
    a. Client wanted to book all the invoies with decimals at liability booking(FB60).
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    b. While making payment(F-53 or F-58) he waanted to round off the decimals(as he do not want to cut the cheque for decimals
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    Deepak

    Hi
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    Select one of them and code in such a way that if the month of billing is some X(as per the system date), then the condition value should be the condition value coming from the billing plan plus a value of $0.04. This should serve your purpose.
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  • Default account assignment for Rate difference for sales a/c

    When we try to clear the vendor through F110 we are facing error. Document posted with SDRU currency. It is expiry currency. It need to clear through USD . Vendor contain customer in the master data. But we are unable post in System No 1
    Another system we are able to post. It is automatically taking GL accounts for rate difference accounts for sales and purchase accounts.
    Here the entry is like below
    001 18      vendor                           139,99                
    002 25      Customer                   488,98       
    003 50      Bank                340,98                
    004 40      Rate difference for sales a/c           4,69                   
    005 50      Rate difference for purchases         12,70
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    We have seen OBKP, VKOA, OBA1 . Please let us know where this Rate difference for sales a/c may be assigned
    Please let us know Default account assignment for Rate difference for sales a/c

    Hi,
        Regarding the rate differences. These accounts come from OB09 where it is defined for the Reconcilliation account in the customer/ Vendor.
    The account "Rate difference for purchases" is coming from OB09 , it is not from OBYC-KDB in this case.
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  • Account for tax posting could not be determined

    Hi experts,
    I am trying to post an incoming invoice thru transaction ETRANSF. I get 2 errors which are
    1> "Message no. EDEREG_INV682"  "In posting area 0010 you store the account determination for the sales tax (company code 0001, tax code V3)."
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    To do this, choose Maintain entries (F5).
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    Create a new tax code if necessary."
    Not being a FI consultant, i have no clue where this entry would be maintained and am getting both the errors even after taking action mentioned in error 1.
    Thanks for your help in advance..
    Cheers,
    Anasua

    Hi,
    for the first message please check the customizing in TA SPRO:
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    for your second message you have to check:
    Financial Accounting (New) -> Financial Accounting Global Settings (New) -> Tax on Sales/Purchases -> Calculation -> Define Tax Codes for Sales and Purchases
    Hope this helps.
    Best regards,
    Alexander

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