SAP Business ByDesign

IFRS 15 / ASC 606 Explanatory Example – Base Scenario

Background to our series on IFRS 15 and ASC 606 We think it is best to explain changes to SAP Business ByDesign for IFRS 15 and ASC 606 along illustrative, realistic examples. In this article, you find more background on the companies used in these examples. An innovative printing machine vendor Printing Solution Corp is manufacturer of printing machines and accessories, trading with supplies and providing innovative services around printing: …

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IFRS 15 / ASC 606 Case: Standalone Selling Price and Contract

Sell Printing Machine incl . 100% discounted Setup Service SAP is introducing enhancements to SAP Business ByDesign to allow customers to comply with Accounting Standard IFRS15/ASC606 Revenue Recognitions Requirements.  The series of case documents introduces the key requirements of IFRS15 /ASC606 along with steps to be taken by the client to implement the new functionality. This case document focuses on: Identification of the revenue accounting contract Identification of performance obligations …

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IFRS 15 / ASC 606 Case: Header discounts and invoice deviations

Sell printing machine incl. setup service with header discount SAP is introducing enhancements to SAP Business ByDesign to allow customers to comply with Accounting Standard IFRS 15/ASC 606 Revenue Recognitions Requirements.  The series of case documents introduces the key requirements of IFRS 15 /ASC 606 along with steps to be taken by the client to implement the new functionality. This case document focuses on: Implication of sales order header discounts …

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IFRS 15 / ASC 606 Case: Customer projects

Basic Project Scenario SAP is introducing enhancements to SAP Business ByDesign to allow customers to comply with Accounting Standard IFRS 15/ASC 606 Revenue recognitions Requirements. The series of case documents introduces the key requirements of IFRS 15 /ASC 606 along with steps to be taken by the client to implement the new functionality. The following topics will be outlined in this case document: Sales orders and performance obligations with projects …

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IFRS 15 / ASC 606 Case: Customer project travel and expenses

Dealing with Travel and Expenses SAP is introducing enhancements to SAP Business ByDesign to allow customers to comply with Accounting Standard IFRS 15/ASC 606 Revenue Recognitions Requirements. The series of case documents introduces the key requirements of IFRS 15 /ASC 606 along with steps to be taken by the client to implement the new functionality. SAP Business ByDesign cannot give legal advice nor can we assess the future best practices …

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IFRS 15 / ASC 606 Case: Customer contract over time

Sell 12 months ‘Active IoT Remote Monitoring’ service with upfront full invoice SAP is introducing enhancements to SAP Business ByDesign to allow customers to comply with Accounting Standard IFRS 15/ASC 606 Revenue Recognitions Requirements.  The series of case documents introduces the key requirements of IFRS 15 /ASC 606 along with steps to be taken by the client to implement the new functionality. This case document focuses on: standardized service example …

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IFRS 15 & ASC 606: New accounting standards for revenue with customers

IFRS 15 and ASC 606 will change how and when to account for revenue with customers FASB and IASB have issued the joint accounting standard IFRS 15 / ASC 606 “Revenue from Contracts with Customers”. Both boards achieved a standard that is equal in text, consequences and resulting postings, disregarding minor interpretations of probability in a few specific cases. Nevertheless, US accountants as well as their colleagues responsible for IFRS …

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How to add the commodity code to the delivery note or invoice?

For export shipments, commodity codes (aka as HS code or German: Warennumme, Zolltarifnummer) are usually requested on the delivery documents such as delivery note or (proforma) invoice to ease the process with customs. Currently, the material classification according to the commodity catalogues, is available In SAP Business ByDesign in the Intrastat WoC that is available for scoping in Business Configuration for European countries.   There are two workaround ideas: (1) …

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Taxation in SAP Business ByDesign with third party vendors

There have been many queries from customers and partners on how to manage taxation for United States as the tax rules are very complex and rates change very frequently. Incase you have a business involving lot of products coming under exemptions and have business in many states its recommend to user third party vendors for tax calculation to get up to date tax rates with Vertex or Avalara . Please …

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