Euro Invoice Create Date With Future GL Date Tax Liability Not Recorded In Ledger on current date
(Doc ID 2287244.1)
Last updated on JULY 20, 2017
Applies to:Oracle Receivables - Version 12.1 and later
Information in this document applies to any platform.
Invoices are being printed in advance of their due dates in Europe to provide customers with a VAT invoice before the invoice due date.
The ‘Tax Point’ regulation in France, for example, requires the tax liability to be due when the customer invoice is dispatched or created.
As a result, no tax liability is recorded and the business cannot systematically record this liability in the GL.
How to record tax in ledger for today's bill as today which has due date and GL date as next month ?
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