What is 'threshold set' in SAP FS-FBS-TXC - SAP Tax Classification and Reporting for FATCA?

threshold set - Overview

• Component: FS-FBS-TXC

• Component Name: SAP Tax Classification and Reporting for FATCA

• Description: A list of account types with amounts assigned to each account type. These amounts are compared with account balances in the tax classification process.

threshold set - Details

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  Key Concepts: 
  A threshold set is a feature of the SAP Tax Classification and Reporting for FATCA/CRS component (FS-FBS-TXC). It is used to define the thresholds for reporting financial accounts to the relevant tax authorities. The thresholds are based on the account balance, account type, and other criteria. 
  
  How to use it: 
  The threshold set is used to determine which accounts need to be reported. The thresholds can be set up in the system by entering the criteria and values for each threshold. Once the thresholds are set, the system will automatically report any accounts that meet the criteria. 
  
  Tips & Tricks: 
  It is important to ensure that the thresholds are set correctly, as incorrect settings can lead to incorrect reporting. It is also important to keep the thresholds up-to-date, as changes in regulations may require changes in the thresholds. 
  
  Related Information: 
  For more information on setting up and using threshold sets, please refer to the SAP Help documentation for FS-FBS-TXC.