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Creating Ad Valorem Tax Recovery RecordsUse

Use this to maintain ad valorem tax data at the DOI/Product/Sales month level. This allocates property tax across the DOI. You can also select transactions thatshould be processed by the allocate ad valorem tax job.

Note

Ad valorem means “according to value“. Ad valorem tax is assessed on the value of goods or property (property tax), not on the weight, quantity, etc.

 Procedure

1. At the SAP Easy Access menu, choose Logistics à Production and Revenue Accounting à Revenue Accounting à Revenue Distribution à Tax Maintenance à Ad Valorem Tax Reovery.

The Ad Valorem Tax Recovery: Initial Screen is displayed.

2. There are two ways of proceeding:

On the Ad Valorem Tax Recovery: Initial Screen, Select Create.

The system displays the Create Ad Valorem Tax Recovery: Overview screen.

Enter the relevant data on the DOI/ product, and the ad valorem amount that applies; for the receivable value, select either estimated or actual, and then select Save.

Alternatively, you can view ad valorem tax data for a DOI/product/sales month.

To do so, on the Ad Valorem Tax Recovery: Initial Screen, enter the data for theDOI, product, and sales month, and then select Find Records.

The system lists ad valorem records for the DOI/product/sales month.

 

An explanation of the fields on the Create Ad Valorem Tax Recovery: Initial Screen (and on the Ad Valorem Tax Recovery: Overview screen) is as follows:

Field

Description

Property/ DOI

Identifies the property to which the ad valorem taxes apply

Major product

The product which is subject to the ad valorem taxes from the specified property/ DOI

Sales month

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The production month for which the transaction is processed

Ad valorem tax amount

The amount of ad valorem tax that is being charged to the property/DOI for the specified major product and sales month. If the state bills the owner for taxes,this amount can be entered on this screen, and a batch process will allocate that amount to the owners of the property/DOI

Receivable value

The receivable value radio buttons indicate whether the ad valorem tax amount isan estimated (accrued) value or an actual receivable value

Processed

Indicates whether the current transaction should be processed by the Allocate AdValorem Tax job or not. Set it to have that job process it.

Remit to operator

This flag indicates whether the ad valorem tax job amount should be remitted tothe operator for the corresponding DOI, instead of remitted to the relevant state or federal agency

 

Result

An ad valorem tax record is created or displayed (depending on what you selected

) for the DOI/product.