South Korea
Purpose
This
country version is designed for use by businesses with operations in South Korea. As well as the generic SAP System functions, it comprises functions designed for laws and business practices particular to South Korea, and a country template to help you customize the system according to local requirements.
This documentation explains how the country-specific functions work and what Customizing settings are made by the country template. It does not cover the generic functions, which are described in the rest of the SAP Library.
Features
Country-Specific Functions
Most of the country-specific functions in South Korea relate to Financials. The main areas are as follows:
You can use the system to create, manage, print, and report on VAT invoices.
Country Version South Korea handles all withholding tax returns and VAT returns (summary reports). All returns are printed in the mandatory format, and you can create a DME file from the VAT summary list which you can submit to the National Tax Service. You can also use it to prepare entertainment expense lists, donation lists, and taxes and dues lists.
The system comes complete with Korean depreciation rules, including ordinary depreciation and special tax depreciation. You can also prepare a number of different tax reports.
SAP offers a Korean version of the balance sheet version and the profit and loss statement, based on the cost of goods sold.
You can print bills of exchange and checks directly from the system, with the system storing the preprinted numbers. You can also create statutory reports on bills of exchange receivable, bills of exchange payable, and bills of exchange discounted. Furthermore, you can manage forms purchased from the bank and prepare a report on the usage of the forms.
Country Template
To allow you to customize your South Korean company codes more quickly, you can use the South Korean country template in the
Country Installation Program.