What is indicia check in SAP FS-FBS-TXC - SAP Tax Classification and Reporting for FATCA?

SAP Term: indicia check

• Component: FS-FBS-TXC

• Component Name: SAP Tax Classification and Reporting for FATCA

• Description: An evaluation of business partner or account data to find indicia for tax classification. An indicia check reads master data from either SAP Business Partner or an external account system and derives a result, which is either positive, negative, or a decision. Indicia checks are a combination of configuration and code; these are assigned to indicia check sets, and are called by the classification framework.

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• Key Concepts: 
  Indicia check is a feature of the SAP Tax Classification and Reporting for FATCA/CRS component. It is used to identify and classify financial accounts based on certain criteria, such as the type of account, the country of residence of the account holder, and the type of income associated with the account. The indicia check helps to ensure that financial institutions comply with FATCA/CRS regulations. 
  
  How to use it: 
  The indicia check feature can be used to identify and classify financial accounts in SAP. To use it, first select the relevant criteria for the account, such as the type of account, country of residence, and type of income associated with the account. Then enter this information into the indicia check feature. The system will then analyze the data and provide a classification for the account. 
  
  Tips & Tricks: 
  When using the indicia check feature, it is important to ensure that all relevant information is entered accurately. This will help to ensure that the classification provided by the system is accurate and compliant with FATCA/CRS regulations. Additionally, it is important to regularly review and update any changes in the criteria used for classification. 
  
  Related Information: 
  For more information about SAP Tax Classification and Reporting for FATCA/CRS, please refer to SAP's official documentation here: https://help.sap.com/viewer/product/SAP_TAX_CLASSIFICATION_AND_REPORTING_FOR_FATCA_CRS/latest/en-US