Indirect Tax and ERP Notes SAP/Oracle Apps

Value Added Tax (VAT)   is an   indirect tax   levied on the consumption of goods and services. Unlike direct taxes (such as income tax), which individuals pay directly to the government, VAT is collected at various stages of production and distribution. Let’s delve into the key aspects of VAT: Collection Process : Supply Chain : VAT is imposed along the entire  manufacturing supply chain . At each stage, businesses add value to the product or service. Incremental Tax : As a product moves from one stage to another (e.g., raw material to finished product), the tax amount increases incrementally based on the value added during that stage. This ensures that the tax burden is distributed across multiple participants in the production process. Historical Context : Origin : The concept of VAT was  first implemented in France  in  1954 . It aimed to streamline tax collection and reduce administrative complexities. Global Adoption : Today, VAT is widely adopte...

Are you an SAP user?   If so, you’ve probably encountered the entered text replaces existing text. This is due to the text overwrite mode which is default in SAP. There are two modes,  INS  and  OVR  modes while editing text. Let’s dive into what they mean: INSERT (INS) Mode : In  INSERT  mode, you can add data between existing content. Anything to the right of your cursor shifts as you type. Example: “ABCDEF” becomes “ABC9DEF” when you insert the number 9. OVERWRITE (OVR) Mode : In  OVERWRITE  mode, you replace existing data. For instance, “ABCDEF” with 9 typed over the middle character becomes “ABC9EF.” 🔧  How to Switch Modes in SAP : Click on the  INS  or  OVR  label at the bottom right of your SAP screen. Use the keyboard shortcut. Click the insert key in your keyboard (usually  INS  or  insert ). #SAP #ProductivityTips #TextEditing #LinkedInLearning

This can be done using t-code ME29N ME29N  is a standard transaction code in  SAP MM (Materials Management)  that allows authorized users to  release purchase orders . Here are the key details about  ME29N : Function : It enables users to display a purchase order and then use their  release codes  to approve it for further processing without switching to other transactions. Usage : When a purchase order (PO) is created, it often requires manual approval before it can proceed.  ME29N  facilitates this approval process. Steps : Open  ME29N  in your SAP system. Enter the relevant  purchase order number . Specify the appropriate  release code  (which corresponds to the user’s authorization level). Confirm the release to allow the PO to move forward. Remember that once a PO is released, it cannot be changed. Unreleased documents (such as requests for quotation, POs, scheduling agreements, or contracts) cannot be processed ...