Subsequent reversal of VAT

Hi
At the time of procurement i took credit for the VAT of Rs.100.
Now after some days, i used this goods for non-manufacturing. Hence as per VAT law, i need to reverse the VAT credit i taken at the time of procurement.
Please help can this VAT credit can be reversed?. I do not want to post just FI entry in FB50 for reversal.
Edited by: Meenu_ND on Aug 11, 2011 2:41 PM

but i cannot take credit. I will have to expense out.
What about VAT reversals because of stock transfers.

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Reversal of VAT at the time of allowing cash discount for incoming payment.

Hi Gurus,
Please guide me for the following scenario.
Invoice posted for comp code from SD. Sale value = 100 Vat = 20 (20%) Customer to Pay =120. Cash discount will be 10% if paid with in 15days.
Invoice on 1st May 2011
Entry At invoice
Customer                  DR                                                              120
To Revenue Acct - 1000100                                                                           100
To VAT payable Acct -2000200                                                                        20
Customer made payment on 10th may 2011.
The expected entry is
Bank A/C 30000100       DR                                                         108
Discount 40000100        DR                                                           10
VAT Payable 2000200   DR ((20/120)*12)                                     2
    To Customer                                                                                120
There is acheck box at comp code global setting level (for tax and cash discount) and another at tax jurisdiction set up level.
Is there any other set up is required apart from above set up for reversal of VAT at the time of incoming payment (as shown above).
please guide me.
Pranab

Please create a Price determination schema/ Modify existing schema to calculate (subtract) Cash Discount in Nett Price and not on Gross Price.
Assign the CAsh discount Z condition to the schema.
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How to reverse the VAT for which I have already taken the credit ?

Hi Experts,
In case of outside state sale, I can't take VAT credit on my purchases. In year end I have to reverse the excess VAT amount for which I have already taken the credit. Please tell me how to reverse the credit taken for VAT step by step. Its very urgent.
Warm Regards,
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TCS

HI,
with help of FI consultant you have to pass JV
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Edited by: kailasugale on Feb 17, 2012 3:24 PM

Adjustment/Reversal of VAT Credit

Dear All,
I am having one issue regarding the adjustment/reversal of credit pool.I think this issue will be faced by most of the manufacturing companies.
At the time of purchase, VAT will be come in VAT Receivable/VAT Recoverable account.
And at the time of sale, VAT will goes to VAT Payable account.
At the time of payment to GOVT, we do like this VAT Payable = Vat Receiable + Pay from account ( Cash/Cheque )
This is normal scenario.
But in case of my client scenario they are making RM purchase mostly as VAT and transfer the 90 % stock to other plants(depot)
Hence Vat receivable is more than Vat Payable
Vat Receiable = 1cr
Vat Payable = 10 Lacs
What we will do the for remaining amount in Vat Receivable ( 90 lacs in Vat Receivable)
Where we will offset this account.
And what practice will followed by the manufacturing companies.
Regards,
Dinesh

first rule u cant not take set off of VAT agains diffrent stat VAT
like u have input VAT in maharastra transfred to Gujrat and sold in gujrat VAT
Accoding to VAT rule uou can not get the set off of MH VAT agains GJ VAT
in u are case if 90% of the material id transfred to diffrent stated then u cant take the set off against this MH VAT
what ever the VAT amount material amount u have transfred certain % only is allowed for VAT set off against MH VAT only
like y have transfred material of 100 and input vat os 10 then u are not elegiv\ble to take set off full 10 againat MH vat output but only redused 2%
10X 2/100 = 0.2 so u can thake set of of 10-0.2= 9.8 against MH VAT output.
rest u have to expense it out and that will be compaies cost .
hope this is clear now

VAT reversal Procedure.

Hi ,
How to reverse the VAT credit or cancel the VAT credit for a perticular PO or Invoice Document , once we debit at Invoice verification procedure? Kindly let me know the entire procedure .
regards,
YK.

hi
you have to reverse the document starting from the Invoice verification to the Material Receipt.

MIRO/ Subsequent Debit problem

I have the following scenario.
A purchase is made for a material for which the taxes include Excise Duties , VAT/CST. Now when we return this item physically , we reverse all taxes , n this is done via sales.
But when we make a subsequent credit , that is debit to vendor , due to quality reasons ( not involving any physical returns) , we reverse the VAT/CST , but NOT Excise.
In MIRO, when i make a subsequent debit to ve ndor ,how can i make a provision such that only VAT?CST is reversed n not Excise ?
Thanks in advance ,
Regards
Anis

Pls extend Help

When billing doc is reversed what the impact in FI

Dear SAP Experts,
I want to know the impact in FI when the below scenario are covered.
1. When PGI is reversed
2. When billing doc is reversed (Accounting Doc not Cleared)
3. When billing doc is reversed (Accouring Doc is cleared)
Regards.

Dear:
             Please follow
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2....When billing document is reversed the customer gets credited and all duties along with sales and duties are debited i-e
Sales Dr
Tax Payable Dr
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3.... When billing document that is already cleared is reversed then many things get open
Customer payments for the invoice amount and its clearing will need to be reversed too.
I mean
For payment reversal of cleared invoice using FBRA
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Confirmation reversed Using T code CORS, goods movement not posted

Hollo Everybody
i am facing a problem pl help me. I have posted a corfimation by TCODE CORK , and subsequently reversed by CORS.
while forward goods movement posted the reversal did not posted against the Process order. it is not appering in COGI listing.
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Dear Debashis,
Kindly check the material movements in MB51. Enter the date of confirmation as well as confirmation cancellation as selection criteria. Please carefully see all the movements .
Then analyze which movements are not reversed.
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Project Billing "write-off" options

I'm attempting to determine the best method of "writing off" transactions on direct projects that have been reported as billable, accrued revenue but will never be billed. Please consider the following narrative as an example:
A consultant (consultant x) charges April time and expense to project 10001 in a billable capacity (charged transactions to a billable task). The transactions are cost distributed, revenue distributed and an invoice is subsequently produced. All cost and revenue transactions are produced, interfaced and ultimately posted to the general ledger in April. The month of April is closed in PA and the invoices for the April billing cycle are produced. Project 10001's draft invoice includes those charges reported by consultant x and is distributed to the project manager for approval. The project manager reviews the invoice review and determines that consultant x's transactions will never be billed and instructs the accounting group to write off the transactions.
Challenge: we need a way to "write-off" (reduce revenue and change billing status) transactions that will allow for consistent reporting and measurement. Specifically, we need to be able to determine all write-off's (revenue/billing reductions) in a given period that relate to original transactions from an earlier or different period. In short, we want to establish a policy and procedure for consistently processing and reporting these types of conditions.
Proposed Options:
1) use the "special" non-billable adjustment option from either expenditure inquiry or invoice review to change the billing status from billable to non-billable.
Pros:
a) transactions will remain on the project in the capacity they were reported by the employee
b) an adjustment record will be created in the PA_Expend_Item_adj_Activities table which will include the adjustment activity code (i.e. Billable Reclass, Non-billable reclass, billing hold, billing hold release, etc.)
c) history of who created original transactions and adjustments is available (full audit trail)
d) a reversing revenue entry will be created in the PA_Cust_Rev_Dist_Lines_all table which will allow us to track the dates (gl period) of the revenue adjustment and compare it to the original transaction dates.
Cons:
a) to the average users the transaction on a billable task flagged as non-billable with no corresponding revenue may look unusual because there is no description explaining why the adjustment existed. the only way to determine that revenue existed and was subsequently reversed is to look at item details- revenue details.
b)The revenue write-off will be charged to the same accounts (revenue and inventory) that the original transaction was booked to but in reverse. we don't have the ability to deflect the "write-off" to a bad debt account versus a direct write-off of revenue.
c) The employee's utilization calculations will be impacted by changing the billing status of the transactions and reducing the corresponding revenue. we may need to update the utilization report to reflect these types of transactions differently.
2) use the "special" transfer adjustment option to transfer the transaction from the originating billable task to a non-billable destination task on the project in question.
Pros:
a) the average user will easily see that the transaction in question has been reversed and b) the revenue subsequently written off by the negative revenue on the reversal transaction
c) an adjustment record will be created in the PA_Expend_Item_adj_activities table which will include the applicable adjustment activity code(s) (Transfer Back-out, Transfer Originating, Transfer Destination).
d) history of who created original and adjustments is available.
a reversing revenue entry will be made via e) the negative reversal entry created in the PA_Cust_Rev_Dist_Lines_All table.
Cons:
a) the original transaction is being altered (transferred) by accounting. the integrity of the transaction as it was submitted by the source employee may be compromised.
b) there is no easy way for the average end user to know where the transaction was transferred to. the information is available via ad hoc reporting from database tables but looking at expenditure inquiry for a given project you will not be able to determine where the transaction went if it was transferred to another task and many tasks exist or if it was transferred to another project entirely.
c) The revenue write-off will be charged to the same accounts (revenue and inventory) that the original transaction was booked to but in reverse. we don't have the ability to deflect the "write-off" to a bad debt account versus a direct write-off of revenue.
d) The employee's utilization calculations will be impacted by changing the billing status of the transactions and reducing the corresponding revenue. we may need to update the utilization report to reflect these types of transactions differently.
e) As a common practice, each project will need at least one "non-billable" task to capture such write-off transfers.
3) use a write-off event (both revenue and billing) to reduce the project by the aggregate amount of all transactions in question.
Pros:
a) employee specific transactions and ultimately utilization results will not be impacted by the independent event transaction.
b) by modifying our autoaccounting rules we will be able to book the "write-off" to an account other than a revenue account. (I believe, more research necessary)
Cons:
a) No link back to actual transactions.
b) original transactions will remain untouched and will appear as though they were billed and will show up on the invoice and detail reports to the client along with an aggregated event for the total write-off amount.
Any thoughts or opinions you can provide about the best practice in Oracle will be greatly appreciated.
null

Diana,
Here's another response from a (very) senior Projects consultant. Her comments are in CAPS, so they can be dinstinguished from your comments:
"I recommend following the approach she outlines in Section 2, with the following additions:
SECTION 2) use the "special" transfer adjustment option to transfer the Transaction from the originating billable task to a non-billable Destination task on the project in question. CORRECT.
A) SET UP THE WBS TO HAVE A TOP LEVEL NON-BILLABLE TASK, ON EVERY PROJECT, WITH A TASK NUMBER OF :"WRITE-OFF".
B) WRITE AUTOACCOUNTING RULE , BASED ON TASK NUMBER, TO ENSURE THAT ANY TRANSACTIONS CHARGED (TRANSFERRED) TO "WRITE-OFF" TASK WILL BE POSTED TO A "WRITE-OFF/BAD DEBT" ACCT IN GENERAL LEDGER.
C) CREATE A DFF AT THE EXPENDITURE ITEM LEVEL WHICH CAN BE POPULATED AT THE TIME OF TRANSFER, TO INDICATE WHERE THE TRX IS BEING TRANSFERRED TO. IT IS TRUE THAT TRANSFER ACTIVITY REPORT WILL TELL YOU THIS AS WELL, BUT IF YOU
WANT TO SEE IT ONLINE DURING EXPEND. INQ, THEN DFF IS FINE.
D) AS TO CONCERNS ABOUT "THE INTEGRITY" OF THE TRANSACTION AS IT IS SUBMITTED BY THE EMPLOYEE BEING COMPROMISED, THIS IS CERTAINLY POSSIBLE, BUT IF THIS IS A SERIOUS BUSINESS CONCERN, THEN I WOULD CONSIDER CREATING AN ALERT TO THE EMPLOYEE WHO ENTERED THE ORIGINAL TRX, ADVISING THEM OF THE CHANGE AND REQUESTING THEIR REVIEW AND OR APPROVAL OF THE TRANSFERRED TRX. I CAN SEE THIS BECOMING QUITE CUMBERSOME THOUGH, AND, OVERALL, ACCOUNTING DEPARTMENTS MANIPULATE TRANSACTIONS FOR ACCOUNTING PURPOSES ALL THE TIME AS STANDARD PRACTICE, SO I'M NOT SURE WHY THIS IS AN ISSUE HERE.
E) AND LASTLY, IT IS TRUE THAT AS A COMMON PRACTICE, EACH PROJECT WILL NEED A
'WRITE-OFF" TASK AS A STANDARD PART OF IT'S WBS-- SO WHAT? IT'S JUST ONE MORE TASK IN YOUR WBS. BUILD IT INTO YOUR PROJECT TEMPLATES, AND MAKE IT NOT CHARGEABLE UNTIL WRITE OFFS BECOME NECESSARY. AS TO UTILIZATION, THERE IS NOT ENOUGH INFO IN THE CLIENT QUESTION TO ADDRESS THAT ISSUE PROPERLY.
THAT'S ABOUT IT. HOPE THIS HELPS.
BEST REGARDS, PAT"
null

11i General Ledger : Translation and Revaluation issue.

Hi,
I'll post the problem as descriptively as i can.
* The client has an Equity account under the natural code of 7341. He has not defined the GL : Owner's Equity Translation rule.
* The currency rate table shows that the rate type used for this natural code is Period
* Functional currency is USD
In August 2006, the client had made an entry to this account to the value of AUD 24,713 which was converted at journal entry point to USD 18,977. The entry was subsequently reversed in September 2008 and the USD book shows a '0' balance after it, which is correct. Just before the reversal the balance was USD 21,332 (taking into account subsequent revaluations till Aug 2008)
Client performs monthly translations and revaluations. In August 2006, the entry was translated to LKR books with a value of LKR 1,929,634. After which monthly revaluations which happened in the functional currency books also got translated and hit the LKR books till September 2008.
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Miranga

Instead of reversing the Original Journal, Pass a reversal entry nullifying the effect of the Original Entry.
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Regards,
Sridhar

Automatically genarate an entry in F-22

Hi,
I have an requirement to genarate an entry autmatically in the F-22 t code.
when we post a customer invoice we calculate our taxes (that is VAT and NBL) automaticaly using the tax codes. Now we need to reverse the VAT entry at the time of posting the Customer Invocie.
But the NBL should not be reversed.
For example I am attaching entry list a posted document and the highleted entry is the reversal entry of the VAT.
That's the entry we need to reverse automaticaly. For this document this entry postd mannuly.
001 01       C6000      Hemas Air Services            101.79
002 50       0010001650 TO-Consultancy Fees            99.75-                S8
003 40       0079700565 SVAT Output                    12.21                 S9
004 50       0079700549 NBL Output                      2.04-                S8
005 50       0079700565 SVAT Output                    12.21-                S8
Pls help me to solve this out. is it possible to use substitution for this, but to my knowledge it can be use only for validation.
Thanks in advance. Help me to solve this out.
Best Regards
Thanura

Hello
If you do a F1 in the value date field it will give you the answer - The value date is used in bank accounts and bank sub-accounts.
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Hope it helps.
Rgds

How to manage entry tax in sap b1 9.0

Hi all
My clint production house in other state and billing house in other state so when ever he call the FG mmaterial from production house to corporate he need to pay entry tax @1% so I can transfer the material through inventory transfer with F form but how can I map this entry tax with FG item ??
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Ricky

Hello Sir
No update ... Still finding the solution .
I got this from the document which you sent me in this forum but didn't get that how to work on this
Please advise me
Country-Specific Fields: India
Select this checkbox in the case of interstate inventory transfer. By default this checkbox is not selected.
Once an inventory transfer is flagged as VAT, you will find the Transaction Category field and the Form No. field in the inventory transfer document.
Note
If the inventory transfer happens during the course of interstate sales, it is required, as per State Level VAT rules, that input credit of tax be restricted. Credit is allowable only to the extent of tax paid on inputs in excess of 4%.
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Need help from an ADMIN or MOD

I'm extremely frustrated with SKYPE customer service and I'm not sure what to do here. I just got done speaking to Richard I. from the Skype-Tier 2 Team in customer service and he would not help me at all. He claimed he could not add the subscription service I was asking for and when I asked to speak to his boss (someone that could make the change) he said there is no one higher that can help. Both statements, i'm sure are not true.
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rstemen wrote:
1. Last month I received an email confirming my payment for Unlimited World subscription. The Premium subscription (with unlimited US calling) that I had was set to expire in June of 2015 so I was surprised (and not happy) that they were charging me 7 months early.
2. They told me via email that they can reverse the charge but if I wanted the same promotion price on Unlimited World, they could not give it to me once this cancelation goes thru.
3. I didn't want Unlimited World and assumed I would still have the same unlimited calling that I've had until June as my account stated.
4. . They put me back on the Premium subscription which no longer has unlimited calling.
5. My account showed record of a promotion I signed up for in April 2014 which I'm guessing is what gave me the June 2015 expiration
Hello again,
1. That was on 11/27/14. The order was for the Unlimited World 12 months Subscription which cost $59.88. This was the annual renewal of the same Subscription and same price which you had originally ordered on 11/30/12. The annual renewal was subsequently reversed. I'm not sure what you mean by your reference to being billed 7 months early.
2. What promotional price were you originally offerd?
3. Which unlimited calling? Unlimited USA/Canada?
4. All Premium Subscriptions have unlimited calling to selected countries - including the USA.
5. We don't have any Subscriptions with a 14 month duration.
6. If you just want unlimited calling to/within the USA then the Unlimited USA/Canada Subscription @$2.99 per month will do that.
TIME ZONE - US EASTERN. LOCATION - PHILADELPHIA, PA, USA.
I recommend that you always run the latest Skype version: Windows & Mac
If my advice helped to fix your issue please mark it as a solution to help others.
Please note that I generally don't respond to unsolicited Private Messages. Thank you.

Subcontracting Returns process

Hi Experts,
Need you help on below scenario of subcontracting returns.
I procure a material (X) from Vendor (A) in units of Meter, example rod. Later I send it to Vendor (B) for subcontracting (cutting) and get material (Y) in units of PC.
At the time of quality check of material Y, I observe cracks in the raw material supplied by vendor A and plan to return to him.
What would be your suggestion here, because I've to add up all the pieces to arrive to meters and return to Vendor A.
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Should I use a returns PO with material X OR returns PO with material Y and alternate UOM OR any other process which you think is better.
Please note this material is excisable
Thanks in advance
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Hi,
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Rg

Subsequent reversal of VAT

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