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					Practice - Set up Recoverable Taxes
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11i Oracle Payables Fundamentals

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The Job Title [list@YourCompany.com?Subject=LABxxxxx] is responsible for ensuring that this document is necessary and that it reflects actual practice.

Copyright © Oracle Corporation, 2005. All rights reserved.

Practice - Set up Recoverable Taxes Effective mm/dd/yy

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03C09BBE-67CB-413C-960C-43E899851E5E.DOC Rev 1

Practice - Set up Recoverable Taxes
Responsibility: Payables, Vision Operations (USA) 1. Navigate to the Tax Codes window  Tax Code = XXRecovery  Rate = 30 Go to Recovery Rules:  Recovery Rate = 50  GL Account = 01-000-1330-0000-000 Navigate to the Invoices window. Query your batch (Hint: (M) View > Find) (B) Invoices (M) File > New  Supplier = XXIBM Corporation Tab to the Invoice Num field  Invoice Num = REC-0001  Invoice Amount = 100 (B) Distributions  Num = 1  Type = Item  Amount = 130  Tax Code = XXRecovery  Account = 01-110-7110-0000-000 (B) Calculate Tax

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Copyright © Oracle Corporation, 2005. All rights reserved.

Practice - Set up Recoverable Taxes Effective mm/dd/yy

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03C09BBE-67CB-413C-960C-43E899851E5E.DOC Rev 1

Solution - Set up Recoverable Taxes
Responsibility: Payables, Vision Operations Set up a Tax Code for Recoverable Taxes 1. 2. Navigate to the Tax Codes window. (N) Setup > Invoice > Tax  Tax Code = XXRecovery  Rate = 30 (T) Recovery Rules  Recovery Rate = 50  GL Account = 01-000-1330-0000-000

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Enter an Invoice using the Recoverable Tax Code 4. 5. 6. 7. 8. 9. Navigate to the Invoices window. (N) Invoices > Entry > Invoice Batches Query your batch (Hint: (M) View > Find) (B) Invoices (M) File > New  Supplier = XXIBM Corporation Tab to the Invoice Num field.  Invoice Num = REC-0001  Invoice Amount = 100

Enter Distributions 10. (B) Distributions  Num = 1  Type = Item  Amount = 130  Tax Code = XXRecovery  Account = 01-110-7110-0000-000 11. (B) Calculate Tax Note: Oracle enters two tax distributions, one for the recoverable tax and one for the nonrecoverable tax.

Copyright © Oracle Corporation, 2005. All rights reserved.

Practice - Set up Recoverable Taxes Effective mm/dd/yy

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03C09BBE-67CB-413C-960C-43E899851E5E.DOC Rev 1


				
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