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SAP Business One

Business One in Action – How to Report Tax on Received Dunning Fees?

SAP Business One can be set up to automatically calculate interest and/or apply a dunning fee during the execution of the dunning wizard. However, neither the calculated interest nor any fee applied to the dunning letter is reflected in the business partner account balance. Yet, both fee and interest amounts can be included in the physical letter sent to the customer. When the customer accepts liability and pay the interest/fee, these monies received must be declared to the tax authority as additional income. This article demonstrates what methods can be employed to achieve the correct tax reporting.

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