Recoverable VAT Is Added to the Cost of the Asset when Interfaced from Receipts
(Doc ID 2068948.1)
Last updated on SEPTEMBER 07, 2021
Applies to:
PeopleSoft Enterprise SCM Purchasing - Version 9.2 to 9.2 [Release 9]PeopleSoft Enterprise FIN Asset Management - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.
Symptoms
When we create a PO followed by a receipt against it, and when the receipt is interfaced to AM, it adds the VAT to the asset cost.
The issue can be reproduced at will with the following steps:
- Setup the VAT for Canada business unit.
- Create a PO for Canada Business Unit and provide Asset Information(Business Unit and Profile Id).
- Dispatch the PO.
- Create a Receipt for the PO.
- Select the Check box 'Interface Receipt' Save the Receipt.
- Check the Asset, VAT amount is added to the Asset.
Note:- Non Recoverable VAT should be added to Asset Cost as per International Accounting Standard.
Changes
Cause
To view full details, sign in with your My Oracle Support account. |
|
Don't have a My Oracle Support account? Click to get started! |
In this Document
| Symptoms |
| Changes |
| Cause |
| Solution |
| References |