According to the Bank of Israel publication as of July 2019 a new cheque format standard (#501) will apply and a unified cheque form will be mandatory.

Please find technical details in this link 

Organizations that print cheques using third party solutions should ap...

January 11, 2019

SAP S/4 HANA is a giant step forward for the ERP market, with new architecture, impressive data power, automation and innovative applications. It creates a wide spectrum of opportunities and business intelligence that were not available before. Even if you are not conv...

January 2, 2019

Recently more and more companies consider implementation of SAP Concur solutions.

SAP Concur offers a Travel & Expense management solution and an invoice processing solution - you can learn more about it in www.concur.com .

SAP Concur solutions has a pre-built integ...

SAP Consultant Insider:

Quite from the beginning, I figured, my job as a SAP consultant, was not about technical knowledge of the machine, nor about project expertise, and not even about my knowledge as an accountant and CFO. It is all about psychology.

This is true to m...

Recently we are facing an increasing need for creating specific DME (Data Medium Exchange) files for different purposes: banks (i.e. Citi Direct), customers, credit companies etc.

The standard SAP DME tool is the DMEE Engine which includes several file structures suppor...

March 5, 2018

The Annual Withholding Tax File to the Israeli Tax Authority (form 856) is due by the end of March.

The report is issued as a text file in a predefined format, and it lists the payments and tax amounts for each supplier. In addition, the filer is obligated to issue to e...

October 7, 2017

In today’s business world, many global companies located in different countries or even continents aim to use one single SAP system. Many of these projects are not done in “one take” but are spread to a relatively long period, moreover even after finalization of this p...

Not everybody knows… but the FM (Funds Management) infrastructure allows us to monitor cash transactions for Projects in SAP.

After activating and implementing Project System module, you have an option to make additional customization and to activate component called "P...

September 18, 2017

This article is relevant for companies that report to the Israeli tax authority.

It describes how to maintain and report in SAP withholding tax data due to payments to foreign vendors.


חובת ניכוי במקור מוטלת בסעיף 164 לפקודת מס הכנסה.

חובת ניכוי במקור נחלקת ל-3 קבוצות...

There are different ways to record a down payment for fixed assets.

I will mention two options that are common and quite different:

Option 1 - Asset down payment process without any special postings in Asset accounting

  1. Down payment request f-47 (a special GL can be de...

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