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Define Tax Codes for Sales and Purchases | FTXP

FICO - Define Tax Codes for Sales and Purchases

Here you are able to define the tax calculation percentages based on combination of tax code, tax procedure and country.

Transaction: FTXP

IMG Path: Financial Accounting (New) -> Financial Accounting Global Settings (New) -> Tax on Sales/Purchases -> Calculation -> Define Tax Codes for Sales and Purchases

Table: T004, T007A, T007S, T007V

 

On the first screen you have to choose the country for which you will change the tax codes.

On the following screen you have to choose a tax code and hit “Enter” or use the Copy function to create a new one. You are also able to create new Tax Code by entering manually the name of it and then hit “Enter”. You will directly go to “Properties” screen of the new tax code where you will have to define whether it is output or input for example.

 

Here, you will have to define the percentage rate.

percent-rate-define-tax-codes-for-sales-and-purchases-ftxp

 

Following are what options we have in properties area.

 

If we click on “Tax Accounts”, we have to select our chart of accounts first.

 

On the screenshot below you will see the G/L Account for that particular tax code.

img_55c0c6c31b0dd

About Emiliyan Tanev

Hello, My name is Emiliyan Tanev. I am SAP BPC Certified Application Associate with a good process understanding of FICO. I am also an experienced accountant and financial controller with 5+ years of diversified responsibilities. I am also a member of Management Accounting Body in the UK – CIMA and CGMA in the US. I love IT and Finance which impacted my career orientation towards SAP FICO and BPC. Follow me and get the latest tips, tricks, tutorials and career guides related to SAP BPC. More about me on My Story.

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