Introduction
The brazil statutory and legal requirements poses certain unique requirements, the same has been covered in the document alongwith ways in which such scenarios can be attended in SAP.
FI – Organisation Structure
Business Place – Each Company code in Brazil is assigned to a Business Place which is further mapped to Plant. Creation of Business Place is mandatory as taxes are reported Business Place wise.
FI – Accounts Payable Process
Accounts Payable Process Overview
The AP process starts with GR/IR verification, in Brazil a document called Nota Fiscal is issues along with goods which contains the tax and other details. For invoices with PO, accounting document which is generated contains tax and other legal details from the Notas Fiscal. For Invoices without PO, these details have to be manually entered.
Automatic Payment Method is used for making payment to Vendors. On running the payment program a file is sent o bank for payment which is processed by bank and the payment is made. Brazil specific payment methods like Boleto, and requisite settings for the same need to be in place.
Brazil Specific Considerations
FI – Withholding Taxes Classification
Witholding Tax Process Overview
On financial front, the tax laws at country and state level for Brazil are manifold. To name a few, we have
SAP supports all these tax types, automatic calculation based on predefined rules which are aligned with tax laws, by setting up tax rates with integration of material management, FI tax codes, and vendor/customer master data. Few specific codes like NBM, CFOP also should be managed to ensure correct determination of tax category (product/service) and tax level (federal or state level), tax type (IPI, ICMS) and finally the rates.
Brazil Specific Considerations
FI – Accounts Receivable Process
Accounts Receivable Process Overview
On making sale a sale alongwith invoice, in Brazil a document called Nota Fiscal is issues along with goods which contains the tax and other details
Brazil Specific Considerations
FI – Asset Accounting Process
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Asset Accounting Process Overview
At first the chat of depreciation needs to be set up and mapped with asset class. Asset acquisition may be with or without purchase order. Periodically depreciation run will be made to post the amount of depreciation to GL. Also in Brazil depreciation amount for tax purposes may differ and needs to be separately calculated.
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Brazil Specific Considerations
This document was co-authored by SCN member varun harlalka
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