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Unable To Add An Asset Account To A Negative Tax Rate Code, Just Liability Account Is Permited (Doc ID 2225558.1)

Last updated on DECEMBER 19, 2019

Applies to:

Oracle Fusion Tax Cloud Service - Version and later
Generic (Platform Independent)


On : version, Set Up FCR-Define Tax Configuration

Unable to add an asset account to a negative tax rate code, just liability account is permitted

User is trying to add an account combination to negative a tax rate code, using an asset account because here in Colombia we use that acount on those negative taxes but the system is restricted to use liability accounts

Accounts for Negative taxes has to be more flexible because the functionality introduced in the last release, because of cases like Colombia taxes, is not complete


The combination cannot be used; it either does not exist, or using it here is not permitted

The issue can be reproduced at will with the following steps:
1. Go to Setup and Maintenance
2. Query Task: Manage Tax Rate
3.. Edit the Tax Rate:COL_2.5%
5. Try to enter asset account information and observed the error described appears

The issue has the following business impact:
Due to this issue, users cannot add an asset account to a negative tax rate code.


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