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EAP: How to Allocate the Sales Tax Entered on the Voucher to State Authority First and Then Determine the Due to Local Taxes? (Doc ID 3013293.1)

Last updated on APRIL 01, 2024

Applies to:

PeopleSoft Enterprise FIN Payables - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.

Goal

The Ship-to-location is configured for 2 tax authorities as follows:

BTR - Local Tax = 5.5%
STE - State tax = 4.45%

When a Voucher is created for a $100 item with $5.45 entered as sales tax on the Voucher header invoice amount and the voucher is posted.

In the voucher post accounting entries it was observed that $9.95 is owed less $5.45 paid with invoice equals an accrual of $4.50 needs to be accrued. It then takes the $4.50 and splits it in the general ledger as $4.50 x 4.45 / 9.95 = $2.01 to state sales taxes payable and $4.50 x 5.50 / 9.95 = $2.49 to Parish sales tax payable.

Is it possible to allocate state taxes first and then determine how much is due to local taxes?

Example:

Expense distribution $100.
Accounts Payable $105.45.
Use Tax Payable (Local Tax authority) $4.50.

Note: In the <images, examples, video > and/or the attached document, user details/company name/address/email/ telephone number all represent a fictitious sample from the Oracle Demo Vision Database. Any similarity to actual companies or actual persons, living or dead, is purely coincidental and is in no way intentional on the part of Oracle.

Solution

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In this Document
Goal
Solution
References


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