What is tax reporting currency in SAP AP-TTE - CRM Transaction Tax Engine?

SAP Term: tax reporting currency

• Component: AP-TTE

• Component Name: CRM Transaction Tax Engine

• Description: A currency unit used for preparing statutory financial statements on tax and calculating the tax amount due. In some cases this currency is different from the company reporting currency, local currency, and transaction currency.

Smart SAP Assistant

• Key Concepts: 
  Tax reporting currency is a feature of the SAP AP-TTE CRM Transaction Tax Engine. It allows users to define a currency for tax reporting purposes, which can be different from the currency used for the transaction. This allows users to report taxes in a currency that is different from the one used for the transaction. 
  
  How to use it: 
  To use the tax reporting currency feature, users must first define a tax reporting currency in the system. This can be done by navigating to the “Tax Reporting Currency” tab in the SAP AP-TTE CRM Transaction Tax Engine. Once this is done, users can then select the tax reporting currency when creating a new transaction. 
  
  Tips & Tricks: 
  When selecting a tax reporting currency, it is important to ensure that it is consistent with the local laws and regulations of the country where the transaction is taking place. Additionally, it is important to ensure that all transactions are reported in the same currency for consistency and accuracy. 
  
  Related Information: 
  For more information on how to use the tax reporting currency feature of SAP AP-TTE CRM Transaction Tax Engine, please refer to SAP’s official documentation on the topic. Additionally, there are many online resources available that provide detailed instructions on how to use this feature.