What is HST number in SAP FI - Financial Accounting?

SAP Term: HST number

• Component: FI

• Component Name: Financial Accounting

• Description: In Canada, a tax number used to record harmonized sales tax.

Smart SAP Assistant

• Key Concepts: 
  HST number stands for Harmonized Sales Tax number. It is a unique identifier assigned to businesses in Canada that are registered to collect and remit the Harmonized Sales Tax (HST). The HST is a combination of the federal Goods and Services Tax (GST) and the provincial sales tax (PST). 
  
  How to use it: 
  In SAP FI Financial Accounting, the HST number is used to identify businesses that are registered to collect and remit the HST. The HST number is entered into the system when setting up a vendor or customer master record. This allows SAP to accurately calculate and report on the HST collected and remitted. 
  
  Tips & Tricks: 
  When entering an HST number into SAP, make sure to double-check that it is correct. Incorrectly entered HST numbers can lead to incorrect calculations and reporting of the HST. 
  
  Related Information: 
  For more information on the Harmonized Sales Tax, please visit the Canada Revenue Agency website at https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/harmonized-sales-tax-hst.html