What is FI, Incoming Tax Invoice Management for China in SAP FI-LOC - Localization?

SAP Term: FI, Incoming Tax Invoice Management for China

• Component: FI-LOC

• Component Name: Localization

• Description: This business function for China VAT Invoice Management enables you to manage the entire lifecycle of incoming invoices, monitor different invoice statuses as well as the mapping relations between incoming invoices and SAP documents. You can also manage the incoming invoice confirmation and declaration at the end of each month, transfer-out of input VAT, and related reports of incoming invoices.

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• Key Concepts: 
  FI stands for Financial Accounting, which is a component of the SAP ERP system. It is used to manage financial transactions and accounts. Incoming Tax Invoice Management for China is a localization component of FI that allows companies to manage their tax invoices from China. This includes creating, changing, and deleting tax invoices, as well as tracking their status.
  
  How to use it: 
  Incoming Tax Invoice Management for China can be accessed through the SAP GUI. Once logged in, users can create new tax invoices, change existing ones, and delete them if necessary. They can also track the status of each invoice and view any associated documents.
  
  Tips & Tricks: 
  It is important to keep track of all tax invoices in order to ensure compliance with Chinese regulations. It is also important to keep all documents associated with each invoice up-to-date and easily accessible.
  
  Related Information: 
  For more information on FI-LOC Localization, please refer to the SAP Help Portal or contact your local SAP representative.