What is RUT number in SAP FI - Financial Accounting?

SAP Term: RUT number

• Component: FI

• Component Name: Financial Accounting

• Description: A tax number, in Chile, assigned to all taxpayers, both legal and natural persons alike.

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• Key Concepts: 
  RUT number stands for “Registro Único Tributario” and is a unique identification number assigned to individuals and businesses in Chile. It is used to identify taxpayers and is required for filing taxes, registering businesses, and other financial transactions. 
  
  How to use it: 
  In SAP FI Financial Accounting, the RUT number is used to identify customers and vendors. It is entered into the system when creating a customer or vendor master record. This information is then used for tax reporting purposes. 
  
  Tips & Tricks: 
  When entering a RUT number into SAP FI Financial Accounting, make sure to include the hyphen between the numbers and letters. This will ensure that the system recognizes the RUT number correctly. 
  
  Related Information: 
  The RUT number is similar to other tax identification numbers such as the Social Security Number in the United States or the VAT number in Europe. It is important to ensure that all customers and vendors have a valid RUT number before conducting any financial transactions.