What is account group in SAP FS-FBS-TXC - SAP Tax Classification and Reporting for FATCA?

SAP Term: account group

• Component: FS-FBS-TXC

• Component Name: SAP Tax Classification and Reporting for FATCA

• Description: A combination of different types of accounts that shall be processed in the same way during classification for tax compliance.

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• Key Concepts: 
  Account group is a component of the FS-FBS-TXC SAP Tax Classification and Reporting for FATCA. It is used to classify accounts according to their tax status. This classification is used to determine the tax reporting requirements for each account. 
  
  How to use it: 
  Account groups are used to classify accounts according to their tax status. This classification is used to determine the tax reporting requirements for each account. The account group can be set up in the SAP system by entering the relevant information in the relevant fields. 
  
  Tips & Tricks: 
  When setting up an account group, it is important to ensure that all of the relevant information is entered correctly. This will ensure that the correct tax reporting requirements are applied to each account. 
  
  Related Information: 
  For more information on setting up an account group, please refer to the SAP documentation on FS-FBS-TXC SAP Tax Classification and Reporting for FATCA.