Defining how Sales/Purchase Tax on Bill Charges is to be Calcula (SAP Library - Special G/L Transactions: Bills of Exchange)

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Defining how Sales/Purchase Tax on Bill Charges is to be Calculated

If you have to calculate taxes on sales/purchases for bill charges, you must consider the following:

The company codes for which taxes on sales/purchases are calculated for bill charges must be configured in your system. You can read about this in "Company code and bill of exchange charges statement"

The master records of the accounts for the bill of exchange charges determine, for which bill of exchange charges taxes on sales/purchases should be calculated. Specify the tax type that is allowed In the Tax category field of the master record. When entering a bill of exchange, a valid tax code must then be entered. If you do not calculate taxes on sales/purchases, you do not need to make an entry in the master record of the G/L accounts.

To find out which tax accounts should be created and whether any further settings need to be made, see Taxes.