MT940 VAT posting

[Former Member]

How does SAP caters for VAT captured for bank charges during FF_5 import of EBS using MT940. How does the format of MT940 looks like eg: Tag 86. Any configuration required to capture the GL acct for VAT posting?

[former_member198450]

Dear Loong,

I'm pretty sure there will no VAT on bank charges, Please check with business team.

Find the details of MT940 for your reference. I define each line for your reference in bold.

:20:MT940/45940885: Statement date

:25:10000100: Account number

:28C:17/1: Statement number

:60F:C140601EUR00,00: Opening Balance

:61:1406020602CR1200,00NTRF : Daily transaction will come under this

:86:1800000007             : Reference

:62F:C140630EUR000,00: Closing balance

All the customization for EBS can be made in OT83.

Regards,

Jain

[Former Member]

Thx Jain for the reply. Malaysia is currently undergoing a new GST tax policy that will be simillar to VAT. Under the policy, most banks services charges are subjected to std rate tax(http://gst.customs.gov.my/en/rg/SiteAssets/industry_guides_pdf/Revised/GST%20Guide%20On%20Commercial...) Have been trying to figure out how this will impact bank charges that will have std tax rate and how these will be transferred in the MT940. Will it be an extension of data in Tag86, or they will send another trx with as amt withdrawn from acct.

[former_member198450]

Dear Loong,

In this case you need to check with bank how they are going accommodate VAT on bank charges? whether it will fall under Bank Business transaction code(NCHG) or they are going to provide new Bank business transaction code.

incase it come under same(NCHG) then you will find reference of same in :86

Regards,

Jain