Revised Schedule VI reporting in SAP

[Former Member]

Hi All,

Do anyone implemented the new revised schedule VI as per the Indian companies Act through SAP, can you share the approach and any other documents on the same? I understand that for the revised schedule VI most of the assets and liabilities has to be disclosed as current and non current, does it mean that we may have to create new GL accounts or is there a better way to do the reporting without additional new accounts?

Regards

Vijay

[Former Member]

Hi All,

Thanks for your responses. I do have a FSV created as per the old Schedule VI, however as per the new Revised schedule VI, we need to classify all asset and liabilities into current and non-current. eg. Term Loan to be shown under Current liabilities and as Non-current liabilities since as per the revised sch VI, anything that is payable within one year need to be classified as current and rest to be shown as non-current.

Therefore to achieve the above I need to create two GL accounts and map it to the respective FSV item. Now my requirement is that I don't want to create GL accounts just for my reporting purpose but at the sametime, need to show the same loan into two categories as Current and Non-current liabilities.

Let me know, if you have similar scenario in your project or company and how this is been addressed

Regards

Vijay

[ankit_agarwal8]

Hi VijayKumar,

I am facing the same requirement from my client. Have u got the solution for this issue. If yes please guide me also..

Regards,

Ankit Agarwal

[former_member198650]

Hi Ankit,

We have configured the FSV as per revised schedule. We have created a separate GLs for current or Non current liabilities or assets as per requirement. Here we have created only one new GL and transferred the current or non-current portion of the amount into to new GL.

Regards,

Mukthar Ali

[ankit_agarwal8]

Hi Mukhtar,

You are right when you are saying for creating new GL. But when after some time non current liabilities will be convert into current liabilities, how system will manage this change.

What should be the process for these changes.

Regards,

Ankit Agarwal

[former_member198650]

Hi Ankit,

Then reassign the FS item in FSV from non-current liability to current liability or vice versa. As you knaow, all GL assignments do in FSV only. You can reassign the GL assignment to FS item accordingly.

Regards,

Mukthar 

[former_member188063]

Hi Vijay, talk to the Business Users first and use the FSV F.01 or OB58 for creating reports.

Regards,

SM*

[Former Member]

Hi Vijay,

Please see http://help.sap.com/saphelp_47x200/helpdata/EN/96/8b311f43ce11d189ee0000e81ddfac/frameset.htm

Regards,

Pranav

[Former Member]

Dear Vijay Kumar,

As the client's auditor to provide the structure of latest schedule VI. You can check with google also on this.

Reg

[Former Member]

Thanks Shashank,

I do have the revised schedule VI report, however I would like to know... how it should be apporached from SAP perspective.

Regards

Vijay

[Former Member]

Dear Vijay,

You need to create FSV in system via t code OB58. For help, refer the existing FSV's created in the system. Assign the GL codes as per the requirement.

At the time of taking the report, assign this FSV to the report.

Your latest schedule VI requirement will be fulfilled.

Reg.