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Finance related Queries - SAP B1

Hello everyone,

We are using SAP Business One 2005B in India.

1) How can we do contra account transactions in SAP Business One.

2) What is an Variance Account. for eg:- if i raise an purchase a/p invoice, sometimes the variance account is posted in journal entry. why does that happen? only the vendor a/c should be debited and inventory a/c should be credited. then what is this variance a/c?

3) How can we do excise in sap business one. is it just creating an tax code for it.

when i created a tax code for the excise + education cess on excise. Then use it in purchase a/p invoice and then try to add the transaction, it says the item is not excisable item. The tax amount is calculating properly in the tax field. But with the same item code in purchase a/p invoice with some other tax code, the transaction is getting saved. I have checked the item in item master, it is not marked as excisable.

Any help will be appreciated.

Thank You


Former Member
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