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VAT returns reporting (UK/Scotland) product gap

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edited Jan 24, 2024 8:44PM in Tax & Global 1 comment

During our UAT we have encountered issues with preparation of monthly VAT return using Oracle Fusion as a source of data. Oracle Fusion does not provide one report that extracts all data and transactions that would be required by UK local authorities. The VAT reconciliation requires checking transactional detail (invoices) due to multiple VAT types and rates that local authorities have to take into account. Testing reported that the Financial Tax Register report provides most relevant information but it does not offer a sufficient transactional detail. A detailed audit report should include a transaction listing that could be run for

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