What is value-added tax in SAP BNS-CON - Concur?

SAP Term: value-added tax

• Component: BNS-CON

• Component Name: Concur

• Description: A generic term used by all countries and all languages for all tax reclaim functionality related to an increase in price or value that is imposed on businesses at all levels of manufacture and production of a good or service.

Smart SAP Assistant

• Key Concepts: 
  Value-added tax (VAT) is a type of indirect tax that is applied to the sale of goods and services in many countries. It is collected by the seller from the buyer at the time of sale and then remitted to the government. In SAP, VAT is managed through the BNS-CON Concur Expense component. 
  
  How to use it: 
  The BNS-CON Concur Expense component allows users to manage their VAT payments and returns. It provides a comprehensive view of all VAT transactions, including invoices, payments, and returns. It also allows users to set up automated payment reminders and generate reports for VAT compliance. 
  
  Tips & Tricks: 
  When setting up automated payment reminders, it is important to ensure that all relevant information is included in the reminder. This includes the amount due, the due date, and any applicable penalties for late payments. Additionally, it is important to ensure that all VAT payments are made on time in order to avoid any penalties or fines. 
  
  Related Information: 
  For more information on managing VAT payments and returns in SAP, please refer to the official SAP documentation on BNS-CON Concur Expense. Additionally, there are many online resources available that provide detailed information on how to manage VAT payments in SAP.