Enhancement Request for Tax Calculation For Bank Charges

(Doc ID 2338546.1)

Last updated on DECEMBER 12, 2017

Applies to:

Oracle Fusion Tax Cloud Service - Version 11.12.1.0.0 and later
Information in this document applies to any platform.

Goal

Currently, there is no Taxes on Bank Charges. The system is not calculating and accounting the sale tax component of the Bank Charges.

When a Bank Charge is discounted to the supplier, the system must allocate the accounting for the Bank Charge and Tax

Payment Accounting:

108 Liability            Debit
100 Cash Clearing   Credit
   7 Bank Charged  Credit
   1 Tax                 Credit

Need to be able to configure Tax Calculation with the Bank Charges Transactions.

The functionality existed for Asia in EBS.
 

Solution

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