R12: AP:Ebtax: Tax Precision is not Calculating as Expected Based on the Defined Setup
(Doc ID 2375488.1)
Last updated on MAY 27, 2018
Applies to:Oracle E-Business Tax - Version 12.1.3 and later
Oracle Payables - Version 12.1.2 and later
Information in this document applies to any platform.
There is a credit balance of 0.01 in Clearing Account, because some rounding issues caused as the taxable amount has 2 decimal places instead of 4.
1.Go to Tax Manager\Tax Regime
1.1 Query the Regime and confirm the precision that has been defined for it,
Tax Precision defined as 4 in Tax Regime.
2. Then go to tax tab and confirm the tax precision defined in there,
Tax Precision is defined as 4 in Tax.
3.Allow Tax Inclusion is Standard Inclusive Handling.
Number of Decimals for Currency = 2
Rounding Rule is Round Nearest
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