There are certain things which each and every individual has to keep in mind while filling income tax return. If you are filling your income tax return before the due date then you have a chance to revise or file a modified return in case of mistakes otherwise you will be in trouble and can not revise your income tax return. Here are a few tips to ensure an error-free … [Read more...] about Useful tips for filing your income tax returns
Archives for May 2013
Applicable TDS rates for the financial year 2013-2014
TDS rates for the financial year 2013-2014 is to be deducted when someone makes a payment to the party and that payment falls into the following TDS table. Following TDS rates as mentioned against respected items are applicable. TDS Sections Particulars TDS Rate Cut Off 192 Salaries Average Rate 193 Interest on Securities to a … [Read more...] about Applicable TDS rates for the financial year 2013-2014
Cheklists while filing your rectification of Income tax return
We have listed few checklists that can help you while filing your rectification request of income tax return online. Please follow these checklists and let us know if you are facing any problem while filing your rectification request. While filing your income tax return online, you should use the latest CPC Order instead of using any other prior orders. For example: if the … [Read more...] about Cheklists while filing your rectification of Income tax return
How posting key is managed in SAP FICO
Posting Key in SAP is a two digit numeric key defined to control the entry of document line items in a FI Transaction. Posting Key in SAP also specifies whether the line item is a debit or a credit entry, account type that can be posted (Vendors, Customers and General Ledger etc.) and the screen layout of line items. For posting special General ledger transactions, special … [Read more...] about How posting key is managed in SAP FICO
Frequently Asked Questions in SAP FICO
Based on the data and our experience we are bringing you some of the frequently asked questions in sap fico that you will be asked in every interview. We have also added FI interview question series in our blog. Request your to read these frequently asked questions in sap fico and give your feedback and suggestions. If you want your payment term to be defaulted in FI … [Read more...] about Frequently Asked Questions in SAP FICO
What is gap analysis in SAP?
SAP is a customized solution providing certain predefined processes in a predefined way. When its implemented, the consultant do a study of the business processes then try to find whether that process in the way required is present in SAP or not. If its available in SAP then the consultant will go ahead and do the customization but if its not available then there is a GAP … [Read more...] about What is gap analysis in SAP?
Primary and secondary cost element in SAP FICO – Difference between both
Primary Cost Elements in SAP are created to match the General ledger accounts of profit and loss statements in FI. These primary cost elements carries expenses from FI module to Controlling module. Each general ledger account in a profit and loss statement are created as a primary cost element in CO Module to have a proper reconciliation between FI and CO. There are two … [Read more...] about Primary and secondary cost element in SAP FICO – Difference between both
Defining Fiscal Year Variant in SAP FICO Module
Fiscal Year variant in SAP or known as FY Variant, is used at the client level and assigned back to the company code. It’s divided into posting periods and each posting period is defined by a start and finish date. In addition to the posting period, you can also define special periods for period end closing. SAP has provided some standard Fiscal Year Variant for use. If you … [Read more...] about Defining Fiscal Year Variant in SAP FICO Module
Opening and Closing of Posting Periods in SAP FI Module
Fiscal year in SAP is divided into posting periods. Before a document entry, you must define the posting periods in SAP so that it can identify to which month of the fiscal year a document has to be posted. System will determine the posting period in SAP based on transaction date that you enter in the document entry screen. In addition to the regular posting periods we also … [Read more...] about Opening and Closing of Posting Periods in SAP FI Module