What is 'tax-exempt revenue' in SAP SBO - SAP Business One?

tax-exempt revenue - Overview

• Component: SBO

• Component Name: SAP Business One

• Description: That part of income on which no taxes must be paid.

tax-exempt revenue - Details

• 
  Key Concepts: 
  Tax-exempt revenue is income that is not subject to taxation. This type of income is typically generated from activities such as donations, grants, and other non-profit activities. In SAP Business One (SBO), tax-exempt revenue is recorded in the system as a separate account and is not included in the total revenue figure. 
  
  How to use it: 
  In SBO, tax-exempt revenue can be recorded by creating a separate account for it in the Chart of Accounts. This account should be set up with a zero tax rate and should be excluded from the total revenue figure. When recording transactions, the tax-exempt revenue should be entered into this account. 
  
  Tips & Tricks: 
  It is important to ensure that all transactions related to tax-exempt revenue are accurately recorded in the system. This will help to ensure that the total revenue figure is accurate and that any taxes due are correctly calculated. 
  
  Related Information: 
  For more information on how to record tax-exempt revenue in SBO, please refer to the official SAP Business One documentation.