Improving of the Tax Calculations in SAP for Ukrainian Companies
Journal Title: Oblik i finansi - Year 2021, Vol 1, Issue 1
Abstract
Providing a fiscal function, tax calculations are one of the key processes in the activities of enterprises. A study of the practice of using modern software products for accounting automation showed that even powerful decision support systems such as SAP cannot provide ease, efficiency and clarity of conducting business operations in compliance with historically established tax laws and accounting procedures. At the same time, VAT calculations are the most laborious, since they significantly depend on the peculiarities of the tax legislation of each country. The article reveals the key directions for improving the process of making calculations for VAT using the SAP ERP system. Taking into account practical experience, the main difficulties in complying with the regulatory requirements of Ukrainian legislation in accounting of business transactions in SAP ERP are highlighted. The features of tracking the first event in VAT-related transactions with the display of accounting procedures on the example of product sales were disclosed, taking into account the technical features of the information system. The methodological and technical reasons for the impossibility of full automation of tracking the first event were shown, based on the practice of Ukrainian enterprises. The standard process for calculating a tax credit for VAT in the SAP ERP system was outlined. It was determined that the existing procedures not only meet the requirements of the current legislation, but also provide significant efficiency in the rapid achievement of correct reporting indicators. To expand the automation of the accounting process, authors' substantiated recommendations were provided, some of which were implemented in the SAP program, in particular, the mass creation of accounting documents in the system and the assignment of status for electronic tax documents in individual cases determined by the current regulatory framework.
Authors and Affiliations
Mariya Shyhun & Andrii Zhuravel
Keywords
Related Articles
- EP ID EP694110
- DOI 10.33146/2307-9878-2021-1(91)-83-89
- Views 152
- Downloads 0
The Effect of Clean Energy Financial Investment on Carbon Reduction
Accounting and finance are intricately intertwined with the global quest for environmental sustainability by applying accounting and finance tools for carbon reduction initiatives. Clean energy financial investment is on...
Comparison of Labour Absorption Based on Employment Status in the Regencies/Cities of South Sumatra Province
The labour force is one of the factors of economic growth. At the same time, the discrepancy between the labour supply and the demand for it creates unemployment in the country. This study aims to analyze the difference...
The Effect of Leverage, Liquidity and Firm Size on Tax Aggressiveness
Tax aggressiveness occurs when businesses apply various tax techniques to lower the amount of tax payable. This study aims to analyze the influence of such factors as leverage, liquidity, and firm size on the tax aggress...
Classification Signs of Changes in the Economy
In environmental variability, timely identification of changes is the most urgent task of the socio-economic system, which is designed to ensure its stable functioning and qualitative transformations to enter a new round...
Програмне забезпечення як нематеріальний актив підприємства: обліковий аспект
Управління великими масивами інформації передбачає використання програмного забезпечення, яке є одним з головних нематеріальних активів сучасних підприємств. Стаття присвячена дослідженню значення програмного забезпеченн...