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How can we change setup of a tax account from Recoverable to Non Recoverable in Oracle Cloud 24C

in Tax & Global 1 comment

Summary:


Hi Team,

We have a requirement from our client where the VAT being incurred by our Sweden Entity is not always recoverable. In this regard, we have got requirement to change the tax accounting setup in Payable Invoices module from recoverable to non-recoverable. Currently, when a VAT amount is added in the tax section, it is being accounted as input VAT claimable. So, the request is to account the VAT amount as expense moving forward. Can you please advise what setup changes do we need to make in this regard to complete this requirement?

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