Component: SBO
Component Name: SAP Business One
Description: A tax payment made by a customer state owned company directly to the tax authority. Note that if you add an A/R invoice for a customer that is a state owned company, for certain tax codes, the customer pays tax to the tax authority, and not to the company. For example, you can define a tax code as "split payment relevant", and specify a special VAT split payment account to which the tax amount is posted during a transaction.
Key Concepts: Split payment is a feature in SAP Business One (SBO) that allows customers to pay for goods or services in multiple installments. This feature is especially useful for businesses that need to manage large payments, such as those made by customers with limited funds. It also helps businesses to better manage their cash flow. How to use it: To use the split payment feature in SBO, customers must first select the “Split Payment” option when making a purchase. They will then be prompted to enter the amount they wish to pay in each installment. Once the payment is complete, SBO will automatically generate a payment schedule for the customer, which can be viewed in the “Payment Schedule” tab. Tips & Tricks: When using the split payment feature, it is important to ensure that all payments are made on time. If a customer fails to make a payment, SBO will automatically generate a reminder email or SMS message to remind them of their outstanding payments. Additionally, customers should be aware that any late payments may incur additional fees or penalties. Related Information: For more information about split payment in SBO, please refer to the official SAP Business One documentation. Additionally, there are several online tutorials and videos available that provide step-by-step instructions on how to use this feature.
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