Showing posts with label Account Payable. Show all posts
Showing posts with label Account Payable. Show all posts
Sunday, 29 September 2013
Tuesday, 24 September 2013
Please arrange to create configuration for TDS 1% for 194IA applicable from 1st June
Scenario: Please arrange to create configuration for TDS 1% for 194IA applicable from 1st June
Solution: IMG -> Financial
Accounting -> Financial Accounting Global Settings-> Withholding Tax->
Extended Withholding Tax -> Basic Settings -> Define Official withholding
tax keys
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W/hold Tax Type
|
VA
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Invoice
|
|
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W/tax Code
|
I5
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Other
|
|
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W/Tax Key
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194IA
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Sale on immovable property
|
|
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Tax Rate
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1.00%
|
||
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W/hold Tax Type
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VA
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Invoice
|
|
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W/tax Code
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I6
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Company
|
|
|
W/Tax Key
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194IA
|
Sale on immovable property
|
|
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Tax Rate
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1.00%
|
||
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W/hold Tax Type
|
VB
|
Payment
|
|
|
W/tax Code
|
A5
|
Other
|
|
|
W/Tax Key
|
194IA
|
Sale on immovable property
|
|
|
Tax Rate
|
1.00%
|
||
|
W/hold Tax Type
|
VB
|
Payment
|
|
|
W/tax Code
|
A6
|
Company
|
|
|
W/Tax Key
|
194IA
|
Sale on immovable property
|
|
|
Tax Rate
|
1.00%
|
New Transaction Codes
mySAP ERP comes with several new transaction codes that replace existing transaction codes
n FAGLB03: Display Balances (New); replaces FS10N
n FAGLL03: Display Line Items (New); replaces FBL3N
n FB50L/FB01L: G/L Document Posting for a Ledger Group; replaces FB50/FB01
n FAGL_FC_VAL: Foreign Currency Valuation (New); replaces F.05
n FAGLF101: Sorting/Reclassification (New); replaces F101
n FAGLGVTR: Balance Carry-forward (New), replaces F.16, GVTR, and 2KES
Differences between EFT and Wire Transfers
Question: What are the differences between EFT and Wire Transfers? What file formats are used by each?
Answer: The definitions of those terms can vary depending on the context. EFT -- electronic fund transfer -- is any transfer of funds that takes place electronically. Using a dictionary definition, it would include wire transfers. But a more limited definition of EFT is used under the Electronic Fund Transfer Act and Regulation E. That definition excludes transfers completed via major interbank wire transfer systems such as the Federal Reserve System's wire transfer system, and systems like SWIFT.
There is also the automated clearinghouse system for typically smaller electronic payments. These transactions are also EFTs under either definition when consumer accounts are involved. Each system that handles electronic transfers of either type has specific file format specifications.
Answer: The definitions of those terms can vary depending on the context. EFT -- electronic fund transfer -- is any transfer of funds that takes place electronically. Using a dictionary definition, it would include wire transfers. But a more limited definition of EFT is used under the Electronic Fund Transfer Act and Regulation E. That definition excludes transfers completed via major interbank wire transfer systems such as the Federal Reserve System's wire transfer system, and systems like SWIFT.
There is also the automated clearinghouse system for typically smaller electronic payments. These transactions are also EFTs under either definition when consumer accounts are involved. Each system that handles electronic transfers of either type has specific file format specifications.
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