General Ledger - EBS (MOSC)

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Sweeping of VAT accounts

in General Ledger - EBS (MOSC) 2 commentsAnswered

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 closing balances (prior month) 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?

We are on Oracle R12.2.12

Regards

Ana

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