Creating/Assigning Tax Codes

After creating any necessary tax codes, you will apply them to your company code’s invoicing procedures.

Parameters for Invoice Verification

From the IMG screen: Materials Management è Valuation and Account Assignment è Configure Price Change in Previous Period/Previous Year

From this screen you will select your company code and check the Price Carry Over field and then click the Save button

Creating and input and output tax

From the IMG screen: Financial Accounting è Financial Accounting

Global Settings è Tax on Sales/Purchases è Calculation è Define Tax Codes for Sales/Purchases

  • Enter US for country and click enter.
  • For tax code, enter xo. Type “Output Tax” under description. Tax Type is A for output. Click enter.
  • Enter 0 for Accrued, A/R Sales Tax 1, MW1.
  • Click save.

Click the Tax Accounts button, and check to make sure an account is linked to the tax code.

Repeat the above procedure for an Input Tax code xi, with a tax type of V for input tax.

Enter 0 for:

  • Distributed to G/L, A/P Sales Tax 1 Inv., NVV
  • Expensed, A/P Sales Tax 1 Exp., VS1
  • Self-assessment, A/P Sales Tax 1 Use., MW1

 

Default Values for Invoice Verification

From the IMG screen: Materials Management è Logistics Invoice Verification è Incoming Invoice è Maintain Default Values for Tax Codes

From this screen you will click on the New Entries button and then enter your company code _ _ _ _

You will then choose a tax code from the drop down menu field under Defaults domestic and enter the tax code xi that you just created.

Default Values, Invoice Verification “Overview”

From the top of the toolbar in SAP click on System è Services è Table Maintenance è Extended Table Maintenance

From this screen you will enter T169V in the Table field and then click the Maintain button. Enter the following on the next screen

Cocd
Credit
Debit
Credit
Debit
Credit
Debit
Credit
Debit

_ _ _ _     31 21 50 40 99 89 75 70

Your input screen should look as follows:

Click save.

 

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