http://www.oracleerpappsguide.com/wp-content/uploads/2016/09/New-Logo.png 0 0 Oracle ERP Apps Guide http://www.oracleerpappsguide.com/wp-content/uploads/2016/09/New-Logo.png Oracle ERP Apps Guide2014-06-07 12:29:002014-06-07 12:29:00How to Setup for E-Business Suite Tax on Payable Invoices in R12
Use E-Business Tax to set up and maintain your transaction tax requirements in all geographic locations where you do business. You can set up tax configurations to include the rules, default values, and other information necessary for each separate tax requirement. At transaction time, E-Business Tax uses your tax configuration to determine the taxes that apply to each transaction and to calculate the tax amounts.
With E-Business Tax, you can:
• Set up and maintain a tax configuration for each tax that you are subject to.
• Set up and maintain records for your legal entities and operating units and the taxes they are subject to.
• Manage the sharing of tax configuration data by the legal entities and operating units in your organization.
• Set up and maintain tax registrations and classifications for your legal establishments and third parties.
• Set up and maintain classifications of the products that you buy and sell.
• Set up and maintain classifications for your transactions.
• Set up and maintain tax rules and default values to manage tax determination and tax recovery on your transactions:
• Set up default values and a minimum number of tax rules for simple tax requirements.
• Set up default values and a comprehensive set of tax rules to manage complex tax requirements.
• Set up and maintain tax-related records for your important transactions.
• Set up and maintain automatic accounting of all tax-related transactions.
• Manage user control of updates and overrides of tax information on transactions.
• Set up and maintain codes for tax reporting purposes.
• Set up and maintain access to third party tax calculation services.
You can use the E-Business Tax Home page to manage access to all parts of the E-Business Tax system for setup and maintenance. The tasks involved in setting up a tax requirement in E-Business Tax fall into three general categories:
1. Setting up transaction taxes.
2. Completing all of the setups and settings related to the processing of taxes on transactions.
3. Setting up tax rules and defaults to manage tax processing.
Steps for E-Business Suite Tax:
Step 1: Create Tax Regime
Step 2: Create Tax
Step 3: Create Tax Status
Step 4: Create Jurisdiction
Step 5: Create Rate
Step 6: Enter Tax Accounts
Step 7: Create Tax Rules (Populate values for all defaults)
Step 8: Make Tax Available for Transaction
Step 9: Test the Tax
Check how the Party/OU has been setup, Tax Manager/Administrator > Parties > Party Tax Profiles