SLA: With Account Derivation Option Of AMB, Upfront Tax Transactions Created in OLFM
Last updated on MARCH 08, 2017
Applies to:Oracle Lease and Finance Management - Version 12.1.3 and later
Information in this document applies to any platform.
On : 12.1.3 version, Accounting Transactions
Find that when the Accounting Option is 'Accounting Methods Builder'' and the OU has Upfront Tax enabled, there is an accounting transaction with Transaction Type "Upfront Tax" which is being created for Upfront Tax. This is in addition to the 'Billing' transaction that is created for Upfront Tax.
The issue does not occur when the Accounting Option is 'Accounting Template Sets' and the OU has Upfront Tax enabled. In this scenario, only the 'Billing' transaction is created for Upfront Tax.
This applies to all the 3 options of Upfront tax (Billed, Capitalized or Financed).
Business does not expect an additional transaction of type Upfront Tax to be generated in addition to the Billing Transactions.
The issue can be reproduced at will with the following steps:
1. Setup an OU in OLFM - and complete all the required Setups
2. In the Accounting Options' page, select the accounting option as 'Accounting Methods Builder'
3. In the 'Transactions Tax Setup' page, choose 'Yes' for Upfront Tax and complete the other related setups
4. Create and Book a contract with Upfront Tax enabled in the T&C
5. Navigate to the 'Accounting Transactions' screen and query for the transactions created
6. A transaction would have been created with the 'Transaction Type' as 'Upfront Tax'.
This transaction is NOT required for our business process
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