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E-Business Tax (MOSC)

Sweeping of VAT accounts

Feb 26, 2025 4:53AM in E-Business Tax (MOSC) 1 commentAnswered ✓

VAT on subledger entries are posted into one of the accounts below:

VAT Input

VAT Output

VAT Capital

Business then does a journal at the start of the following month to move the balances out of the three accounts above into a control account.

Does Oracle have the functionality to sweep the opening balances of the prior month VAT accounts into the VAT control account?

Regards

Ana

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