SNP Split Payment
Handling of split payment in SAP
On 1 July 2018, the regulations related to the new solution prepared by the Ministry of Finance – a split payment mechanism – have became effective.
The buyers who will decide to join the mechanism will split payments for delivered goods and performed services into the net amount and the amount of VAT, which will be paid to separate bank accounts of the supplier. The participation in the mechanism is voluntary. The benefits of joining include: obtaining a VAT refund on the VAT account within a shorter period, or a reduction in the amount of tax payable in the event of paying VAT from the VAT account before its due date.
Advantages of SNP Split Payment:
- The transfer orders generated in our solution meet the requirements related to providing mandatory data in the transfer message: an invoice number, a counterparty’s TIN number, a net amount and a VAT amount
- SNP Split Payment is prepared both for the Payment Medium Workbench and for the classic program that generates payment media.
- The solution enables the split payment to be handled directly from the SAP system, without significant changes in the processes of making outgoing payments and posting suppliers’ invoices
- SNP Split Payment can be easily adapted to other payment formats.