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it.split payment

Meet the Full Solution for Managing the Payments Covered by Split Payment on the SAP ERP and S/4HANA Systems

Split Payment is a mechanism relating to the method of payment of VAT by market entities, in relation to certain goods and services. It only occurs in transactions between companies. It consists in dividing the payment amount for the invoice into two parts: the net amount and the VAT amount. They are settled separately on two different bank accounts, of which the net amount goes to the counterparty's bank account and the VAT amount must go to a dedicated sub-account of the entity with which the transaction is made. Each active VAT payer is required to have such a separate account in the bank whose services he uses.

Your Benefits
Functions
Requirements

Fast Implementation

The process of implementing the solution has been simplified as much as possible so that the Client's involvement in the implementation works is low. After just a few days, customers can use the solution.

Full Integration

The it.split payment product will comprehensively adapt your SAP system to handling the split payments, reducing errors and enabling you to perform all activities within it.

Simple Handling

The solution is easy to use, thanks to which the user training is very short, and the general convenience of using, even when handling multiple payments, is very high

Your Benefits

Split Payment Entirely on the SAP System

The optimal use of the activities related to the payment management in accordance with the new legal requirement requires a dedicated solution, so that your Financial IT back-office can fully use its potential, without encountering unnecessary difficulties in the form of manual data completion or controlling individual transfers.

Flexible Configuration

The it.split payment solution is based on an individual approach to the business and financial environment in which you prosper. The final shape of the tool emerges after analyzing the system and specific needs, which allows you to keep a lot of freedom in introducing personalized settings and additional options. The tool can be adapted to any type of industry/activity. Among the existing customers who have chosen our product, there are representatives of many different industries, such as: construction, pharmaceutical, financial, furniture, food, metal processing, distribution and municipal services.

Full Compliance With Regulations

Split Payment is another step of the Ministry of Finance, which adjusts Polish tax law to new standards by introducing internationally used tools and legal measures, in this case - the Split Payment mechanism. In various forms and on various principles, it already applies, inter alia, in Romania, Italy, the Czech Republic and Turkey. itelligence guarantees to provide appropriate updates in the event of further changes or iterations of Split Payment introduced by legal authorities. Our tool enables full compliance and transparency for the performed split payments in the SAP system.

Functions & Features of it.split payment

it.split payment allows you to make a transfer for the supplier or recipient, depending on the selected variant, in accordance with the Split Payment message and based on the ELIXIR-0 format, extended with the data required by the Act.

 

Supported processes within the solution:

  • Payment of the entire VAT amount
  • Partial payments
    • Partial payments - F-59 payment request
    • Partial payments - partial settlement
  • Payment of the entire VAT amount
  • Partial payments - other settlement
  • Compensation with the recipient
  • Return to recipient
  • Installment payments (commitment divided into several parts)
  • Alternative payment recipient
  • Documents without tax code (manual indication of the VAT amount)
  • VAT amount for currency invoices
  • Collective transfers

 

Let us help you handle your payments by streamlining and facilitating your daily work. The benefits you will get thanks to it.split payment are:

  • Minimal impact of the solution on the current business processes in SAP
  • Support for long numbers of purchase invoices as standard
  • Data analysis before sending transfers - extensive possibilities
  • Easy to adapt the solution to individual customer requirements
  • No need to upload SAP notes
  • Works also on older SAP versions

Requirements

  • The current SAP system as per note: 2168056 - Collective note for payment formats: PL_ELIXIR-O in the case of the structure variant based on PWM or the implemented electronic payment solution based on the J_1P0042 program
  • The tool is available for the SAP ERP and S/4HANA systems. The solution assumes that the data needed to prepare a Split Payment transfer is available in the SAP system and covers work only within the SAP ERP system
  • The it.split payment solution is delivered using transports in the itelligence technical standard (coding, object naming schemes, packages, transactions) that must be implemented in the SAP system
  • The solution requires the conclusion of a maintenance contract covering technical support and product updates
  • The customer is obliged to delegate a team to support the implementation and test the solution (delays resulting from the customer's fault may cause failure to meet the deadline). All parties involved in the implementation of works are obliged to act in accordance with an agreed plan (applies to Basis partner, Key Users, technical support, etc.)
  • In special cases, the correct indication of the VAT amount on the transfer may require changes in the settlement processes (applies to partial payments) or additional ABAP changes

 

itelligence is open to your needs and offers you to perform any activities beyond the scope of the basic solution, if you show us such a need. Your requirements will be analyzed and clarified during individual consultations so as to properly configure and personalize our Split Payment tool for your work.

Get In Touch

Are you looking for further information on it.split payment? Just contact us – we are happy to assist you.