GST: Advance receipts : GST taxes liability is booked with closed period date

(Doc ID 2327529.1)

Last updated on NOVEMBER 20, 2017

Applies to:

Oracle Financials for India - Version 12.1.1 and later
Information in this document applies to any platform.

Symptoms

ACTUAL BEHAVIOUR:
-------------------------
On AR Advance Receipt, the taxes are accounted in Close period and that to
with the Receipt Date rather than GL_DATE

EXPECTED BEHAVIOUR:
-------------------------
The taxes should be accounted in the current OPEN period in correspondence
with the UNAPP event of the receipt

STEPS TO REPRODUCE
-------------------------
1. Create Unidentified Receipt with the Receipt Date when Bank Account was
credit.
2. The GL Date is the current open period.
3. Account the receipt.
4. Identify/associate the customer to the receipt
5. Receipt status is Un-applied.
6. Apply the GST taxes and confirm.
7. Observed that the taxes are accounted with RECEIPT date as Accounting
Date.

BUSINESS IMPACT
-------------------------
Wrong Accounting entries in the accounting books.
Compliance issues during Audit

Cause

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