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Oracle E-Business Suite R12.1 Accounts Receivables Essentials Partner


Boot Camp Training Courseware

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Key Content Contributors
Contributing Companies

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© 2009 Oracle Corporation – Proprietary and Confidential -4-
Bootcamp Objectives

• Order to Cash Lifecycle overview


• Overview of Oracle Receivables Process
• Managing Parties and Customer Accounts
• Process Invoices Using Auto Invoice
• Process Invoices
• Bill Presentment Architecture
• Credit Management
• Implement Customer Invoicing
• Receipts
• Implement Receipts
• Tax Processing
• Period Closing Process
• Annexure

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© 2009 Oracle Corporation – Proprietary and Confidential -5-
Section Objectives

E-Business Tax Architecture Overview


Receivables Tax Process Overview
Receivables Setup Steps for Tax
Manage Tax Accounting and Tax Adjustments

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© 2009 Oracle Corporation – Proprietary and Confidential -6-
E-Business Tax Architecture Overview

E-Business Suite
Transaction Data Transaction Tax Data
Oracle E-Business Tax
Tax Services Request Manager

Services
Content
Repository
Tax Tax Tax
Content Determination Administration
Services Services Services
Record
Repository
Partner Partner
Tax Content Tax Services
Interface Interface

Tax Partner
Tax Content Tax Services

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© 2009 Oracle Corporation – Proprietary and Confidential -7-
Section Objectives

E-Business Tax Architecture Overview


Receivables Tax Process Overview
Receivables Setup Steps for Tax
Manage Tax Accounting and Tax Adjustments

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© 2009 Oracle Corporation – Proprietary and Confidential -8-
Receivables Tax Process Overview

Receivables
Tax Rate Code

Invoice

Tax Rules

Receivables
Transaction with Tax
Tax Rules Engine Distributions

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© 2009 Oracle Corporation – Proprietary and Confidential -9-
Tax Overview

• You use E-Business Tax to set up and maintain these taxes:

– Value Added Tax (VAT) - Imposed on the value added to goods or services
at each stage of their supply.

– Goods and Services Tax (GST) - Sales tax levied on many consumer
products and professional services.

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© 2009 Oracle Corporation – Proprietary and Confidential -10-
Tax Overview

• E-Business Tax processes Oracle Order Management and Oracle


Receivables Output Tax, which is charged on the supply of taxable
goods and services on customer invoices or revenue items. You
should report Output Tax whenever you account for sales.

• E-Business Tax processes Oracle Payables and Oracle Purchasing


Input Tax, which is paid on supplier invoices.

• Amount Due to the Tax Authority consists of Output Tax on customer


invoices minus any Recoverable Input Tax on supplier invoices.

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© 2009 Oracle Corporation – Proprietary and Confidential -11-
Value Added Tax (VAT)

• Value Added Tax (VAT) is imposed on the supply of goods and


services paid for by the consumer, but collected at each stage of the
production and distribution chain.

• The VAT charged on a customer invoice is called Output Tax.

• Any VAT paid on a vender invoice is called Input Tax.

• The amount due each period can be : Amount Due = Output Tax –
Input Tax.

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© 2009 Oracle Corporation – Proprietary and Confidential -12-
Section Objectives

E-Business Tax Architecture Overview


Receivables Tax Process Overview
Receivables Setup Steps for Tax
Manage Tax Accounting and Tax Adjustments

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© 2009 Oracle Corporation – Proprietary and Confidential -13-
Receivables Tax Setup

• In order to manage tax calculation on Receivables invoices, setup is


required in E-Business Tax as well as Receivables modules.

• E-Business Tax setup:


– Regime-to-rate flow
– First and third party tax profiles
– Configuration options
– Tax registrations
– Tax exemptions
– Profile options
– Service subscriptions
– Tax rules

• Receivables setup:
• Transaction types
• AutoAccounting

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Receivables Tax Setup: Transaction Types

To automatically
assign a default
tax classification
on transaction
lines, select the
Default tax
classification box.

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Receivables Tax Setup: Tax Exemptions

• Set up tax exemptions in E-Business Tax for customers and customer sites that are
exempt from a particular tax

Assign
exemption
on the
customer or
customer
site

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Receivables Tax Setup: AutoAccounting for Tax

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© 2009 Oracle Corporation – Proprietary and Confidential -17-
Receivables Tax Setup: Profile Options

• eBTax: Allow Manual Tax Lines: Determines which users can enter manual
tax lines on the transaction for the tax setups that allow this update.
• eBTax: Allow Ad Hoc Tax Changes: Determines which users can make ad
hoc tax changes on the transaction line, such as selecting a different tax
status or tax rate.
• eBTax: Allow Override of Customer Exemptions: Controls the display of
the Tax Handling field on the transaction line. You use the Tax Handling field to
apply and update customer tax exemptions on transactions.
• eBTax: Allow Override of Tax Classification Code: Controls whether
users can update the tax classification code that is defaulted to the transaction
line. You only set this profile option if you intend to calculate taxes using tax
classification codes and the Direct Tax Rate Determination tax rule.
• eBTax: Invoice Freight as Revenue: Controls whether to consider freight
amounts as taxable line items.
• eBTax: Inventory Item for Freight: Lets Order Management use an
Inventory item defined as Freight on Receivables transaction lines.

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© 2009 Oracle Corporation – Proprietary and Confidential -18-
Tax Accounting Overview

Set up Tax Accounting Information for Tax


Rate Codes and Receivables Activities

Deferred Tax
Miscellaneous
Cash

Earned

Unearned

Adjustments
Discounts
Late charges

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© 2009 Oracle Corporation – Proprietary and Confidential -19-
Section Objectives

E-Business Tax Architecture Overview


Receivables Tax Process Overview
Receivables Setup Steps for Tax
Manage Tax Accounting and Tax Adjustments

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© 2009 Oracle Corporation – Proprietary and Confidential -20-
Tax Accounting for Deferred Tax

• Deferred tax recovery is an accounting method that defers the liability


of tax to the time that the invoice is paid, rather than when the invoice
is created.

• Set up for deferred tax recovery is done in E-Business Tax:


– Set the Allow Tax Recovery option for the applicable tax regime.
– Select Deferred as the default recovery settlement for the applicable tax
regime, tax, tax status, and tax rate records.
– Set up an Interim Tax Account in the Tax Accounts page.

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© 2009 Oracle Corporation – Proprietary and Confidential -21-
Define Receivables Activities

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© 2009 Oracle Corporation – Proprietary and Confidential -22-
Adjusting Tax on Invoices

Adjustment
entry with
Receivables
Activity
Approval limit
$500

Validation
Approved
process
or Pending

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© 2009 Oracle Corporation – Proprietary and Confidential -23-