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Costing Tax Information

(U.S.)
Overview
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System References
None
Distribution
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Ownershi
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&ocument is necessary an& that it re$lects actual practice.
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Costing Tax Information !.".#
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O./ectives
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Costing All Taxes .y Tax Type
Costing a!! Taxes by Tax Tye
'or ta" consi&erations( you cost all ta"es by ta" type. )n *racle terms( this means costin% by
element.
The +,-S pro&uct pro.i&es( as stan&ar&( a number o$ pre&e$ine& elements $or ta"es an&
&e&uctions. !se these pre&e$ine& elements to maintain cost &etails $or !.S. $e&eral( state( an&
local ta"es.
To set up your system $or costin% ta"es( simply enter the appropriate /0 account co&e on the
lin1 $or these elements( an& choose the ta" type 'i"e& Coste& in the costin% re%ion.
)$ you nee& to maintain cost &etails by the state or locality to 2hich costs are payable( more
setup is re3uire&.
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Costing "tate and 0ocal Taxes .y 12risdiction
Costing State an" #oca! Taxes by $uris"iction
)$ your /0 maintains ta" totals by state( or by state an& locality( there is an e"tra set o$
proce&ures $or you to $ollo2. )n this case( you must set up the lin1s $or each ta" type( or each
element( as &escribe& on the pre.ious sli&e.
You must also set up a&&itional se%ments on the Cost 4llocation 5ey 'le"$iel&. These are
re3uire& juris&iction in$ormation se%ments. The system mana%es these se%ments automatically.
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Costing "tate and 0ocal Taxes .y 12risdiction
Costing State an" #oca! Taxes by $uris"iction
)$ your /0 maintains ta" totals by state or by state an& locality( you nee& to set up the
$ollo2in% a&&itional se%ments6
7 )$ you must collect state an& local ta" costs by state but not locality( &e$ine a State Co&e
se%ment.
7 )$ you also 2ant to collect ta" amounts by locality( then also &e$ine County Co&e( City
Co&e( an& School istrict Co&e se%ments.
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Costing "tate and 0ocal Taxes .y 12risdiction
Costing State an" #oca! Taxes by $uris"iction
The application automatically populates the a&&itional se%ments i$ you set them up as $ollo2s6
7 o not mar1 these se%ments as re3uire& in the system.
7 Ensure these se%ments are mar1e& as enable& an& &isplaye&. )$ you &o not mar1 them as
&isplaye&( they &o not appear in the cost brea1&o2n reports.
7 o not enable any 3uali$iers. The se%ments shoul& not appear in any 2in&o2. They nee&
to e"ist $or the Costin% process( but the 8ayroll ,un process populates them as
appropriate.
7 The 8ayroll ,un process automatically collects the in$ormation on the Element Entry an&
4ssi%nment recor&s to &etermine appropriate .alues to enter $or these se%ments.
7 4lthou%h these se%ments &o not appear in any cost entry $iel&( all enable& se%ments
appear in the Suspense 4ccount $iel& in the 8ayroll 2in&o2. 4lthou%h the se%ments are
populate& by the 8ayroll ,un process( they may still $ail cross9.ali&ation. There$ore( you
shoul& enter Suspense 4ccount co&es $or the se%ments.
*nce you ha.e set up lin1s $or each ta" type( an& set up a&&itional se%ments as re3uire&( the
costin% o$ ta"es ta1es place as part o$ the re%ular 8ayroll ,un process. :hen you run the
8ayroll process( it pro&uces the %ross9to9net results. :hen you run the Costin% process( it
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accumulates the costs into the local +, costin% tables. )$ you are usin% *racle /0( you can
then trans$er the costs to *racle /0. )$ you are usin% a thir&9party system( you nee& to 2rite
your o2n inter$ace to trans$er &etails $rom the cost tables to your /0 system.
)t is your responsibility to set up matches bet2een your /0 account co&es an& the juris&iction
co&es the Costin% process uses( an& to &e.elop a process $or trans$errin% Costin% process
results to the appropriate accounts in your %eneral le&%er.
See Costin% $or Ta"es in the online help.
Copyright Oracle, 2007. All rights reserved.
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"2mmary
Copyright Oracle, 2007. All rights reserved.
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