Self assessed tax accounting

1. When invoice is 3-way matched where accruals are done at receipt, the Use Tax amount is debited to the accrual account.
2. But in reality it should be debited to the charge account and credited to the specific Tax account defined in the EBTax configuration.
Is this (#1) a standard behavior?
Steps involved:
1.     Create invoice, match it to the receipt (accruals are performed ‘at receipt’)
2.     Click calculate tax
3.     Override Use Tax (add amount and check self assessed checkbox) on the invoice
4.     Validate invoice
5.     Create Accounting for invoice
6.     The ‘create accounting’ report reflects that the item line and the self assessed tax line are debited to the accrual account. Item line is then credited to a liability account and the self assessed tax line is credited to the specific Tax account defined in the EBTax configuration.
Question is why does the self assessed tax line is debited to the accrual account and not to the charge account?

Similar Messages

Self Assessed Tax Lines - AP

Can you please help me on this related to self assessed tax amount.
1. How can i get the self assessed tax amount for Invoice and its entries from AP - XLA - GL
2. How can i get the accounting entries for the self assessed tax amount for lines reverted for a cancelled invoice. AP -XLA - GL.
Thank you for your time.

Can you please help me on this related to self assessed tax amount.
1. How can i get the self assessed tax amount for Invoice and its entries from AP - XLA - GL
2. How can i get the accounting entries for the self assessed tax amount for lines reverted for a cancelled invoice. AP -XLA - GL.
Thank you for your time.

Set up of Self Assessment Tax in R12.1.2

Hi Experts,
I would like to know the setups related to calculation of self assessed taxes in payables.
I am able to calculate taxes based on Ship to location but taxes are not automatically checked as self assessed. I can manually check the box but expecting the system to do it automatically.
Regards,
Ramesh

please check,
- You would need to setup the rule based on the registration status
- Enable the self assessment flag at the OU or establishment level
- At supplier party level mark the supplier/site as registered or 'not registered'
- enable the calculate tax flag in the 'Tax reporting' tab at supplier site level
- then the system would mark the tax as self assessed if the registration of supplier is set to not registered.
please consider the above steps.
thanks.
shilpa

Self assessed tax

Hello,
I have configured regime to rate flow and its calculating the tax as expected, but I have created a tax rule to calculate self assessed tax for NON-REGISTERED vendors. Now after i created this tax rule the EBT engine is calculating tax for all the vendors irrespective of their registration status.
could someone help me in resolving this issue..
regards,
Shilpa

I figured this out using the below note:
How to Configure a Tax to Self-Assess in R12 E-Business Tax (EBTax) and Payables (Offset, Use Tax) [ID 948414.1]
thanks.

Self-Assessed Tax Through Payables Open Interface Import

Does anyone know what fields are required to process an invoice with use tax through the payable open interface import? We have a custom interface in 11i that loads these invoices and validates nightly. However, in R12 we are using E-Bus Tax engine to "manually" check the "Self Assess" while creating invoices. How can this same process be done through the import????????
Edited by: user5893077 on Mar 2, 2011 3:50 PM

Have you customized/setup the Project Accounting Workflow builder. You need to do some setup for this workflow builder so that the project accounts can be derived properly.

Sales and use tax or self assessed tax

Hello,
I am supposed to configure Use tax for a client.
I have checked metalink note on configuring use tax, somehow it is not complete.
If someone could help me find a document that speaks about use tax, it would be a great help.
Regards,
Shilpa

the below note helped resolve my requirement pertaining to Use tax:
How to Configure a Tax to Self-Assess in R12 E-Business Tax (EBTax) and Payables (Offset, Use Tax) [ID 948414.1]
Thanks.

Tax accounts

hello ,
i am tryin gto post an invocie with input tax, we have 3 tax codes, i0 , i1( ap sales) , and u1( self - assessment) ,
with i1 selsection it does not show anytax line item when the doument posts.
with u1 selection it's positng to the appropraite account assigned on the mw1, mw2. right now the u1 tax is goin gto the sales tax account .
it does not allow me to assign on ftxp.
and what is the differene between u1 and i1
please let me know.
thanks

goto FTXP... give the tax code... on the screen u will have tab for accounts.... cehck the GLs there////

Use assessment tax reconciliation issue

Hi all,
in my company there is an issue for use assessment tax U1, here is the example:
1. GR-- receive consignment stock
Dr        stock                                           3750
CR       Consignment Liability account       3750
2. IR --- invoice vendor ( we use ERS settlement )
DR      Consignment Liability account       3975
CR      vendor                                          3750
CR      Use Tax a/c                                  225
In reviewing the detail of Consignment Liability account, this results in a consignment receipt that does not equal the settlement invoice, leaving a debit balance in that account which equals to Use Tax A/C.
I guess my question is shall we calculate the use assessment tax on GR so that Consignment Liability account will balance? how to make this reconciliation work?
please advise, thanks!

Hi Nancy
How can you calculate the use tax during GR? I dont think it is possible at the stage of GR.
Use can calculate tax only at the time of IR.   But instead of posting the tax at the time of IR, it can accrued in a separate account so that your reconciliation does not get affected.
See below link from SAP help where the use tax accrual is discussed
http://help.sap.com/saphelp_47x200/helpdata/en/fa/99bc16339811d3958d00a0c929f4c9/frameset.htm
Thanks
Ashok
Award points if this is useful.

Error in Tax account determination

Hi experts,
When i am trying to release by billing document by using t-code VF02 i am getting error:
"Error in account determination table T030K Key xxx MWS"
I checked config but could not find any thing
Can anyone help me to resolve this?
thanks,
Vani

DEFINE TAX ACCOUNTS
PATH: SPRO  FINANCIAL ACCTG  FIN ACCTG GLOBAL SETTINGS       TAX ON SALES/PURCHASES  POSTING  DEFINE TAX      ACCOUNTS
TRANSACTION CODE     -     OB40
DOUBLE CLICK ON VST INPUT TAX
GIVE THE CHART OF ACCTS          -     GES
PRESS ENTER & SAVE
GIVE THE ACCOUNT NO.          -     200155 (VAT POOL A/C)
 SAVE & SAVE IN YOUR REQUEST
SELECT BACK ARROW
DOUBLE CLICK ON MWS OUTPUT TAX
PRESS ENTER & SAVE
GIVE THE ACCOUNT NO.          -     200155 (VAT POOL A/C)
 SAVE & SAVE IN YOUR REQUEST

Down Payment Received - Output Tax Account definition

Hi,
I have defined reconciliation account for down payment received under OBXR, and it works fine. However, the issue comes when we post output tax received along with customer down payment. I get the error "No taxes on sales/purch.are allowed for account 214010, O1 is not allowed". 214010 is our customer down payment account.
It looks like I have to define tax account under "Define Tax Accounts for Down Payments Received (OB40)" and also "Define Account for Tax Clearing (OBXB)". I am not sure where in OB40 and OBXB I have to define these accounts. Or is it enough if I just define tax account for down payment under OB40 and don't do anything in OBXB.
I appreciate your help.
Thank you

> Hi,
>
> I have defined reconciliation account for down
> payment received under OBXR, and it works fine.
> However, the issue comes when we post output tax
> received along with customer down payment. I get the
> error "No taxes on sales/purch.are allowed for
> account 214010, O1 is not allowed". 214010 is our
> customer down payment account.
> <b>Go to your GL account 214010 in FS00 in change mode and make the following settings from F4. < Output tax account</b>
> It looks like I have to define tax account under
> "Define Tax Accounts for Down Payments Received
> (OB40)" and also "Define Account for Tax Clearing
> (OBXB)". I am not sure where in OB40 and OBXB I have
> to define these accounts. Or is it enough if I just
> define tax account for down payment under OB40 and
> don't do anything in OBXB.
> <b>Once u make the above settings then the system will tell you whether you need to define other accounts for postings once you make postings.</b>> I appreciate your help.
>
> Thank you

Tax accounts set up in FTXP

Can anyone please tell me of How I can have Tax accounts set up for a 'Transaction'(Ex:NVV for A/P Sales Tax1) in FTXP, Or Assign Tax Procedure to 'NVV' Trans. in OB40. I am not even able to see the Transaction NVV assigned to the Tax Procedure when I view the screen(FTXP).

Hi,
You can check it from T-code OBCN. Here you can find NAV and NVV.
Following is setting from my system :
NAV : Non-deduct.input tax > Posting indic. 2 Separate line item
NVV : Non-deduct.input tax > Posting indic. 3 Distribute to relev
Posting indic. 2 let you can see from t-code : OB40.
If you change NAV Posting indic. from 2 to 3, then you can't find NAV from tcode OB40.
Please. review following note for NVV and for further information on settings, pls. refer Online documentation.
SAP Note No. 425193 Account assignment with non-deductible tax
Please assign points if it useful.
Regards
Ravinagh Boni

What's the difference between tax account in FTXP and OB40

Hi all,
There are two tax accounts link to same tax code in FTXP for different company codes, but in OB40 I only can assign one account to tax code. What's the difference between tax account in FTXP and OB40?
Thanks in advance.
babyyw
Edited by: babyyw on May 5, 2010 8:21 AM

Hi,
FTXP no need to create a request and it is easy but in OB40 system will ask you create request. and another thing is in FTXP it is at country level but in OB40 it is at chart of accounts level.

How to register iTunes Connect if i do not have a Tax account no

Can anyone please advice , how to register iTunes Connect if i do not have a Tax account no?
I am interested to register iTune Connect and sell ibook, but I am not US citizen and do not live in US. I do not have an US Tax account no. How can i proceed ?

Hi there fishlady,
This article covers printing from the ipad with your 3051a. Give the steps outlined a shot and let us know if it helps.
Best of Luck!
I work with HP my posts and opinions are my own.

Assign Project Code to Tax account automatically

Hi Everyone:
When I assigned a Project code in a Marketing document, why in the Journal Entry the tax account does not assign automatically the project code the way the others accounts does?. Is there any way to achive this?
Thanks
Claudia

Hi,
Check this thread...
[Re: Project code is not tagged against service tax in transactional J.E.|Re: Project code is not tagged against service tax in transactional J.E.]
Thanks
Sachin

Default "Recoverable Tax" account - cost center segment to specific value

Dear all,
I have tried couple of days to see how to use subledger accounting setup to default cost center of recoverable tax account (recoverable tax account - cost center segment to specific value which is based on the cost center of invoice distribution), however it is not succesful.
I think might be some of the setup is wrong, please see below my setup steps:
1) Set up Account Derivation Rules
Copy rule code AP_INVOICE_DIST to T_AP_INVOICE_DIST with adding a source ='Recoverable tax", condition = Invoice Distribution Account is not null
2) Setup Journal Lines Definition
3) Setup Accounting Accounting Definition
Please advice.

Madhu,
I did some investigation too and it looks like this is only way i can do this.
Do you think of any User Exit name, which i can use it here?
Thank you and appreciate your help.

Self assessed tax accounting

Similar Messages

Maybe you are looking for