All business processes are integrated in sap to deliver end result that is required for your organization. You can broadly divide your Organization business process into two parts; Order to cash Procure to Pay Order to Cash Order to cash is a general business process that followed in all type of businesses. In SAP this process is mapped well to deliver you the … [Read more...] about What is Order to Cash and Procurement to Payment in SAP – OTC or P2P
Archives for August 2013
SAP FICO Interview Questions Part 2
How to activate and deactivate cost centers collectively in SAP You can activate and deactivate CCs in sap. But long list of CCs are activate and deactivate by using this functionality. You can use transaction code KEA01 or following path to activate CCs collectively; SPRO > IMG > Controlling > CC Planning > Master Data > Cost Centers > Activate … [Read more...] about SAP FICO Interview Questions Part 2
SAP FICO Interview Questions Part 1
How the group chart of account is linked to operational chart of account You do not have separate transaction code path to create both. Chart of account is created as a variant in sap and after its creation you assign it to different object within SAP. You use transaction code OB13 to create a COA variant. First you create a group chart of account variant and then create … [Read more...] about SAP FICO Interview Questions Part 1
Business Expenditure in Cash is permitted up to Rs. 20, 000 – Section 40A(3)
Business expenditure paid in cash to a person in a single day is allowed up to Rs. 20, 000. If you make different payments at a different time in a single day which aggregate to more than Rs. 20, 000 then the entire expenditure will be disallowed as business expenditure. In the case of plying, hiring or leasing goods carriage business the limit of cash expenditure under … [Read more...] about Business Expenditure in Cash is permitted up to Rs. 20, 000 – Section 40A(3)
TDS on Rent – Section 194I of Income Tax Act
TDS on rent has to be deducted under section 194I where the aggregate amount paid or credited or likely to be paid or credited to the account of recipient exceeded Rs. 1, 80,000 during the financial year. However, if you are jointly owner of a property then this limit will be applicable to each such joint owner i.e. TDS on rent will be deducted only when the limit of Rs. … [Read more...] about TDS on Rent – Section 194I of Income Tax Act
What is NEFT – National Electronics Funds Transfer
The acronym NEFT stands for National Electronics Funds Transfer system. In NEFT bank settle transactions in batches. This means, settlement of one transaction takes place along with all other transactions received till a particular cut-off time. NEFT settlements are done every hour in batches. That means transactions within that hour will be settled at once. The … [Read more...] about What is NEFT – National Electronics Funds Transfer
What is RTGS – Real Time Gross Settlement
RTGS stands for Real Time Gross Settlement. Under RTGS, processing of your payment instructions are done at a real time rather than at some other time i.e. settlements are done instruction wise from the banks. In Real Time Gross Settlement funds from your bank account are transferred to another bank account on a real time (i.e. settlements are done without any waiting … [Read more...] about What is RTGS – Real Time Gross Settlement
How to create a costing variant in sap
Costing variant in sap determines how product expenses are to be calculated in sap. We have two types of costing variant in sap; Planned costing variant Actual Costing variant Planned Costing Variant You configure it to determine the preliminary cost estimate where as actual expenses are determined by the actual costing variant. … [Read more...] about How to create a costing variant in sap
Trademark Registration in India – How to register your trademark
A unique logo, name, combination of colors and slogan are the first thing most of the business man does. It identifies the source of goods, services and inspires trust and loyalty with a perceived level of quality. How about miss using these logos, names and slogans which you consider to be your business asset. To prevent such things you need to register all these or you have … [Read more...] about Trademark Registration in India – How to register your trademark
How do I Open a Current Account
If you just started up your business then as a first step towards it you must open a current account with any banks in India. The benefit of having a current account is, you can have unlimited facility of withdrawal and transfer subject to the balance available in your current account. Unlike saving A/c you do not have any withdrawal limit for the current account. You can … [Read more...] about How do I Open a Current Account