Papers by Ross Lithgow
Goal: This document seeks to outline and provide updates on the decommissioning of the LCIT VAT c... more Goal: This document seeks to outline and provide updates on the decommissioning of the LCIT VAT conditions for Italy and use of LCFR for both Italy and France. Background :
Requirements Normally, Vat on sales and purchases are reported when an invoice is issued. The tax... more Requirements Normally, Vat on sales and purchases are reported when an invoice is issued. The tax payable amount is calculated as the balance of the input and output taxes and cleared in the subsequent period. The tax for some transactions, however, can only be deducted on settlement. This is common in France (output and input) and Italy (input) , Poland (Input) , Romania (Input) Responsibilities • Defining Appropriate Deferred VAT Code-Local Finance / Sourcing Business • VAT Transfer – COTA – Center for Technical Accounting • VAT Reporting – COTA/ Business Procedure: This program automatically makes the transfer posting for tax on sales/purchases periodically. The return must be filed within a certain time period after the invoice is paid. S_P00_07000119 (Program RFUMSV25) first creates a log of the cleared customer or vendor invoices posted with deferred tax within the period. The program takes the tax amounts with their tax bases from the document tax items. Customer or vendor data and the respective clearing date are taken from the offsetting items. Tax items are only cleared if all the corresponding items have been cleared. To make the transfer posting for partial payments, the program creates a corresponding clearing item. The program differentiates between partial payments and credit memos. The transfer posting for the tax amounts proportionally allotted to credit memos is only made when all affected invoice items are cleared. This report program carries out immediate transfer postings for the deferred tax of down payments. The transfer posting is carried out at Cota on a monthly basis Settings • If you select the indicator "Carry out batch input" (resulting in transfer postings for the deferred tax), this program can be started ONLY ONCE for EACH "Clearing date" you enter on the selection screen. • Customer and vendor line items with a posting key for payments without special G/L indicator must not contain deferred tax. • Special G/L indicators to be considered must be entered on the selection screen. • Down payment clearings must be posted using SAP standard transactions. • Partial payments can only be posted for one specific invoice at a time. If a partial payment affects several invoices, a separate document has to be posted for each invoice. • Each payment transaction has to be posted separately, that is, several incoming or outgoing payments cannot be posted using just one document.
•Leading ledger of company codes are managed in local currency of the country of the company code.
In Spain, there are some vendors which are required to be paid through confirming payments. A lis... more In Spain, there are some vendors which are required to be paid through confirming payments. A list of all AP invoices for these vendors are sent to the bank with the payment due dates. This is used by the bank to discount payments to the vendors. In order to do this, we are currently having a customized program that selects all "confirming" vendors and send all these items to BBVA Bank. Now we are migrating from BBVA to Deutsche bank and earlier format is not usable in Deutsche bank. We have mapped this process in BCM and will be sending these payments in CGI XML format. A new XML format (ZCGI_XML_CT_DTL) has been developed.
Teaching Documents by Ross Lithgow
SAP - VPRS Third Party Billing document supplement postings Case Study
Drafts by Ross Lithgow
SAP FICO and PS - Intercompany Labour financial considerations for SAP with Global Projects.
Time... more SAP FICO and PS - Intercompany Labour financial considerations for SAP with Global Projects.
Timesheets vs POSO EDI
VAT return, HMRC,
DMEE, File formats,
Structure RFUMS_TAX_ITEM - Tax on Sales/Purchases Line It... more VAT return, HMRC,
DMEE, File formats,
Structure RFUMS_TAX_ITEM - Tax on Sales/Purchases Line Item
Report - S_ALR_87012357
Program - RFUMSV00
Uploads
Papers by Ross Lithgow
Teaching Documents by Ross Lithgow
Drafts by Ross Lithgow
Timesheets vs POSO EDI
DMEE, File formats,
Structure RFUMS_TAX_ITEM - Tax on Sales/Purchases Line Item
Report - S_ALR_87012357
Program - RFUMSV00
Timesheets vs POSO EDI
DMEE, File formats,
Structure RFUMS_TAX_ITEM - Tax on Sales/Purchases Line Item
Report - S_ALR_87012357
Program - RFUMSV00