What is tax object in SAP IS-PS-CA - Public Sector Contract Accounts Receivable and Payable?

SAP Term: tax object

• Component: IS-PS-CA

• Component Name: Public Sector Contract Accounts Receivable and Payable

• Description: Object that justifies the liability to pay taxes. Tax objects are mapped in Tax and Revenue Management using contract objects.

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• Key Concepts: 
  Tax Object is a component of the IS-PS-CA Public Sector Contract Accounts Receivable and Payable module in SAP. It is used to manage taxes associated with public sector contracts. It allows users to define tax codes, assign them to contracts, and track the taxes associated with each contract. 
  
  How to use it: 
  To use the Tax Object component, users must first define the tax codes that will be used for each contract. This can be done by creating a tax code in the system and assigning it to a contract. Once the tax codes have been defined, users can then track the taxes associated with each contract by entering the tax amounts into the system. 
  
  Tips & Tricks: 
  When creating tax codes, it is important to ensure that they are accurate and up-to-date. This will help ensure that the taxes associated with each contract are correctly calculated and tracked. Additionally, it is important to regularly review the tax codes to ensure that they are still valid and up-to-date. 
  
  Related Information: 
  The Tax Object component is closely related to other components of the IS-PS-CA Public Sector Contract Accounts Receivable and Payable module, such as Accounts Receivable and Accounts Payable. It is important to understand how these components interact in order to effectively manage taxes associated with public sector contracts.