From SAP point of view plant is a place where inventory are kept and valuated. You can define plant by using transaction code OX10 or following path; SPRO > Enterprise structure > Definition > Logistics – General > Define, copy, delete, check plant You need to enter following details to create a plant in sap; Name Description Country code Factory … [Read more...] about How to define Plant in SAP
Archives for August 2013
All about TAN – Tax Deduction Account Number
TAN stands for Tax deduction Account Number. It’s a 10 digit alpha numeric number issued by income tax department. First 4 digits are alphabetic then followed by 5 numbers and one alphabet at the end. Each number issued by income tax department is unique. TAN has to be obtained by those peoples who are responsible for deducting tax at source from the payment or income paid by … [Read more...] about All about TAN – Tax Deduction Account Number
What Payer should do In Case Of TDS
If you are making any payment or credit which attracts TDS as per the provisions of income tax act then you must follow the followings steps to comply with income tax provisions; Get TAN TAN stands for Tax Deduction Account Number. Every individual responsible for deducting tax at source must obtain a TAN before such deduction. TAN is a ten digit alpha numeric number … [Read more...] about What Payer should do In Case Of TDS
TDS @20% if PAN is not quoted
You have to pay higher income tax at source with effective from 1st of April 2011 in cases where you have not given your PAN number to the payer. IT act has specified 22 items where the payer has to compulsorily deduct income tax from the income or payment that is paid to the payee. Every person receiving these amounts has to compulsorily furnish his/her permanent account … [Read more...] about TDS @20% if PAN is not quoted
What is TDS – When Should You Deduct Tax At Source
TDS stands for Tax Deduction at Source. As per the provisions of IT act, tax on income shall be payable by deduction at source (TDS) even though such income earned during the financial year is assessable subsequently in the relevant assessment year. Because of this provision, the person who is making payment of your salary, rent, interest etc will deduct income tax (TDS) at a … [Read more...] about What is TDS – When Should You Deduct Tax At Source
Actual Cost of Asset for Depreciation Calculation
For calculating depreciation, one of the criteria to be considered is the actual cost of the asset. If you have a block of asset and a new asset has been purchased then actual cost of such new asset has to be added to the block for the purpose of calculating depreciation. If the block to which this new asset belongs does not exist at the time of buying then in such cases … [Read more...] about Actual Cost of Asset for Depreciation Calculation
How to maintain Profit center document type for SAP PCA
When you perform assessment or distribution for a profit center accounting a profit center document is created. To post it you need to create a document type and number range. Without a assigned document type and number range sap will not allow you to post. Maintain Document Type For PCA You can maintain it for profit center accounting by using transaction code or … [Read more...] about How to maintain Profit center document type for SAP PCA
How To Create Recurring Document In SAP FI
You enter the recurring data in to a recurring posting document. Recurring posting program use this document as a template for creating the accounting document that is posted. To create a recurring document you need to use transaction code FBD1 or following path; SAP Menu Path > Accounting > Financial Accounting > General Ledger > Document entry > Reference … [Read more...] about How To Create Recurring Document In SAP FI
SAP Basis Transaction Code
Transaction Codes are very helpful to move from one sap screen to other. Here is a list of transaction codes related to basis module. SAP Basis Transaction Codes (tcodes) for Archive Links Transaction Codes (tcodes) Transaction Code (tcodes) Description OAA3 ArchiveLink protocols OAA4 ArchiveLink applic.maintenance OAAD ArchiveLink … [Read more...] about SAP Basis Transaction Code
FI HR Integration in SAP
Integration of FI and HR module is done by using following path; SPRO > Payroll > Payroll: India > Reporting for posting payroll results to accounting Step by step procedure for FI HR integration; Define Symbolic Account Symbolic a/cs are four character keys that act as an integration between HR wage types and Financial Accounting general ledgers. To … [Read more...] about FI HR Integration in SAP