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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.

Symptoms

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.

Actual Configuration:

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


Changes

 

Cause

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