What is 'Tax Ledger Account' in SAP AP-ACC - FIN Accounting?

Tax Ledger Account - Overview

• Component: AP-ACC

• Component Name: FIN Accounting

• Description: Record of valuated payables and receivables from sales and tax and excise duty for a company with regard to the tax authorities and relating to a tax type and other tax characteristics. This record serves the purposes of proper financial reporting for sales tax and and excise duty for a company. Furthermore, a tax ledger account also contains customizing data and process control data.

Tax Ledger Account - Details

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  Key Concepts: 
  A Tax Ledger Account is an account in the SAP system that is used to record and track taxes. It is part of the Accounts Payable (AP) component of the Financial Accounting (FIN) module. The Tax Ledger Account is used to store information about taxes such as the amount of tax due, the date it was due, and any other relevant information. 
  
  How to use it: 
  The Tax Ledger Account can be accessed through the SAP system by navigating to the Accounts Payable (AP) component of the Financial Accounting (FIN) module. Once there, users can view and manage their Tax Ledger Account. This includes creating new accounts, editing existing accounts, and deleting accounts. Additionally, users can view and manage their tax payments and liabilities. 
  
  Tips & Tricks: 
  When creating a new Tax Ledger Account, it is important to ensure that all relevant information is entered correctly. This includes the name of the account, the type of tax being paid, and any other relevant information. Additionally, it is important to keep track of all payments made to ensure that taxes are paid on time. 
  
  Related Information: 
  For more information on Tax Ledger Accounts in SAP, please refer to the SAP Help Portal or contact your local SAP support team. Additionally, there are many online resources available that provide detailed instructions on how to use