Last updated on MARCH 08, 2017
Applies to:Oracle Financials for India - Version 12.2.3 and later
Information in this document applies to any platform.
Customer is on 12.2.3.
How to handle the following Business requirement:
Step 1.: We have created on account receipt and have applied service tax on it. System has created a Service tax debit note for the amount of service tax which we have applied to the receipt.
Step 2: We have incorporated the Project Invoice in AR. Service tax is applicable on the invoice. Invoice got created with tax element
Step 3: Application of invoice to receipt. It is getting applied but the tax portion to the extend the service tax liability that has been created at the time of advance should be reversed on adjustment with invoice, otherwise it will be double accounting of the service tax to the tune of amount of service tax on advance receipt
How to handle the scenario. Please clarify.
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