August 2024
Prepare for Tax Season with SAP Business One
Creation of tax codes in SAP Business One
The coding of the tax codes is freely selectable. Inactive codes cannot be used when entering documents. The category also determine whether a tax code is used in purchase or sales documents. The "EU" characteristic determines whether documents with this tax code are relevant for the recapitulative statement. Further specifications relate to the type of service, such as intra-Community deliveries, other services or triangular transactions, as well as the definition as acquisition tax or reverse charge tax.
Tax codes in SAP Business One (sap-b1-blog.com)
How to add Tax Group in SAP Business One
The Tax Group menu in SAP Business One is used to define the type of tax used in every sales/purchase transaction document which will be automaticall recorde in the system and entered into Chart of Account according to the type of tax.
To add the Tax Group, follow these steps:
- In the main menu SAP Business One, enter to administration menu → Setup → Financial → Tax.
- Enter the Code, Name, Category, Tax account and other info.
- After that double-click on the new tax line until a new Tax Definition - Setup dialog window appears, or right-click select Tax Definition.
- Fill in the Effective from and Rate (in percentage) columns.
- Click Update in the Tax Definition dialog, and click Update once again in the Tax Group window.
Courtesy of STEM Innovation Design Value 11/2020
Invoice for Tax-Only Items
Sometimes, you want to give your customer free-items, but that items still need to be calculated for the tax, depens on your contry ruses. You don't need to create a separate invoice, just follow these simple steps:
- Open A/R invoice menu (or A/P invoice), click copy from button and select your Delivery Order as your base document.
- Then, add another item (bonus item/free item) on your invoice details. If you slide to the right side of the details, you see "Tax Only" column. If it's still not there, you can set visible that column from "Form Setting: icon on menu bar.
- Please tick "Tax Only" and add your invoice, the system will automatically adjust the total tax amount only for the item with tax % >0, and for the item with "Tax Only" ticked.
Courtesy of STEM Innovation Design Value 01/2018
4most Systems provides world-class, individually tailored and innovative business solutions for small, medium and large enterprises across industries and sectors. Established as an SAP Partner in 2004, we deliver ERP solutions utilising SAP Business One at the core. With offices in South Africa, Botswana and Namibia as well as a growing economic footprint in the DRC, Kenya, Zambia, Malawi and Tanzania, the company has a strong base, being the first and only partner to establish all-round SAP competency, offering over 30 years of experience and skills.
