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Oracle

Oracle

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24 O r a cle F i na nc ia ls F u nct i o na l O v er v i ew I n v o i c e T a x R ep or t i n g Oracle Payables provides standard reports for reporting on your invoice taxes.

These reportsinclude a tax audit trail report, a use tax liability report, the Intra-EU VAT Audit Trail Report,and a listing of your defined tax names. VAT T ax es You can define an unlimited number of VAT (Value Added Tax) taxes. You define VAT taxes inthe same method as any other sales tax. You can assign a VAT tax as a supplier site default. Youcan easily enter invoices with VAT taxes and Oracle Payables provides complete VAT reporting.

Tax Type Tax Name Tax Rate Review VAT Charges Tax Declaration Report Intra EC VAT Audit Trail Enter VAT Charges for Invoices Define EEC Suppliers and Assign Tax Name to Supplier Site Define Tax Names O r a cle P a ya b l es ma k es it ea s y f or y ou t o d e f i n e a n d r ec or d t a x es G r os s M et h o d T a xa t ion When you enable the Automatic Tax Calculation system option and you enter a tax name forthe invoice that has a sales or user-defined tax type, you can manually enter the tax amount oryou can have Oracle Payables automatically calculate the tax amount. T a x E x cep t i ons Oracle Payables¶ automatic invoice approval (Approval) automatically performs tax variancechecking and places tax exception holds on any invoice with a tax amount that does not matchthe calculated invoice tax amount(s) as determined by the tax rates you define for the tax names Or acle Payables 25 on your invoice. You can define percentage and amount tolerances to deter mine the amount of tax variance you allow on your invoices. E x p ens e R ep or t T ax It ems You can easily record tax charges on your employee expense reports. A u t o ma t i c T a x W i t h h o l d i n g You can automatically withhold taxes for your supplier invoices and employee expense reports.You have flexibility in defining your withholding tax rate structures using effective date andtaxable amount ranges, and single invoice limits or period limits.Using withholding taxgroups, you can withhold multiple taxes for an invoice or expense report. T a x I n c l u s i v e or E x c l u s i v e I t e m A m o u nt s You can specify whether supplier invoice items or employee expense report items include tax in their pricing.Oracle Payables performs the appropriate tax calculations, based on the item. F l ex ib l e T a x R ou n di n g You can control how Oracle Payables rounds tax calculations to meet varying countryrequirements.Choose the rounding rule Up, Down or Nearest as a system default andoptionally change this default at the supplier or supplier site. 26 O r a cle F i na nc ia ls F u nct i o na l O v er v i ew F ix ed As s et s I nt egr a t io n

Mass Additions lets you add assets and cost adjustments to assets directly into Oracle Assetsfrom invoices in your Oracle Payables system. The Mass Additions Create process sends validinvoice distribution lines from Oracle Payables to an interface table in Oracle Assets. Aftersending the invoice lines, you can review them and determine whether to create assets from anyof the lines in Oracle Assets. Bu s ines s N eeds With Oracle Payables and Oracle Assets you can: ‡ Add items from Oracle Payables directly into Oracle Assets ‡ Minimize data entry ‡ Manipulate invoice lines before they become assets in Oracle Assets ‡ Transfer discount taken information on asset purchases Or acle Payables 27 P u r cha s in g I nt egr a t io n Oracle Payables fully integrates with Oracle Purchasing and other purchasing systems. Thisallows you to access your purchasing information on-line and automatically match invoices topurchase orders using two-, three-, or four-way matching. Bu s ines s N eeds With Oracle Payables you can: ‡ Share supplier infor mation with your purchasing department, so that you do not have to enter the same data twice ‡ Require matching for selected suppliers to ensure their invoices are matched to purchase or der s ‡ Match invoices to purchase orders and automatically hold those invoices that exceed your matching tolerance, whether you use Oracle Purchasing or another purchasing system ‡ Define amount-based and percentage-based matching tolerances ‡ Record a price, quantity, or exchange rate variance between an invoice and its matched pur chase or der ‡ Match an invoice at the purchase order shipment line level or the distribution line level ‡ Review purchase order details and purchase order notes when matching an invoice ‡ Assign a match as final and have Oracle Payables permanently close the matched purchase or der ‡ Associate a purchase order with a recurring invoice M a jor F ea t u r es M a t c h i n g t o P u r c ha s e O r d er s

Oracle Payables allows you to match the invoices you enter to the purchase orders (and relatedreceipts) in your purchasing system. Oracle Payables supports the level of matching (2-way, 3-way, and 4-way) that your organization requires for matching invoices to purchase orders and receipts.

28 O r a cle F i na nc ia ls F u nct i o na l O v er v i ew

M a t c h a n i n v o i c e t o o n e or m or e p u r c ha s e or d er s 4-Way Match To Inspection To Receiving Supplier Purchase Order 2 Bikes@ $150.00 ea. Receipt Required Inspection Required Invoice Bikes Quantity 2 Price $150.00 Accepted Bikes Quantity 2 Receiving Bikes Quantity 2 Purchase Order Bikes Quantity 2 Price $150.00 Receipt Quantity Accepted Invoice U s e 2 , 3 , or 4 - w a y ma t c h i n g f or o p t i ma l c o nt r o l o v er y ou r p u r c ha s es

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