2 Replies Latest reply: Nov 14, 2013 9:47 PM by 1054695 RSS

    AP Invoice - How to offset Tax account

    Jayakumar Manoharan

      Hi All,

         We have requirement to automatically offset tax account in the invoice distribution.


      For example  - If invoice is for 240 pounds with tax 40 pounds and we are using accounting rule - Automatic Offset Yes with  Account Type.

      Account structure-- Balancing segment - cost centre - account

      Default Liablity Account - 100-000-9620

       

      When Accounting is created

      Dr - 100-222-9510 (Item expense account ) - 200 Pounds
      Cr - 100-222-9620 (Liablity account) - 200 Pounds
      Cr - 100-000-9620 (Liability Account) - 40 Pounds for TAX
      Dr - 100-000-9752 (Tax Account)      - 40 Pounds


      What we want is

      Dr - 100-222-9510 (Item expense account ) - 200 Pounds
      Cr - 100-222-9620 (Liablity account) - 200 Pounds
      Cr - 100-222-9620 (Liability Account) - 40 Pounds for TAX
      Dr-  100-222-9752 (Tax Account)      - 40 Pounds

       

      we want Cost centre of tax account picked from item expense account.


      Please let me know if is there any standard functionality to do this , if not can you suggest customisation for this

       

      Thanks,
      Jay

       

       


        • 1. Re: AP Invoice - How to offset Tax account
          Raju .G

          Hi Jay,

           

          If you want change cost center for liability account please do the following process.

          while entering the invoice header go to folder menu and select the liability account now we will see the liability account field.

          Form there we can select cost center.

           

          And coming to tax we do not have any standard functionality in 'Automatic tax calculation'.

          But we can change the cost center in 'Manual tax calculation'.

           

          Regards,

          Raju

          • 2. Re: AP Invoice - How to offset Tax account
            1054695

            Hi,Jay

             

            If you are using EBS R12,just try the SLA(Subledger Accounting) to solve this problem.

            One suggestion is you may use the journal Line Type called 'Recoverable Tax’  which under the Subledger Accounting Method to define the tax account’s cost center.

             

            Regards,

            Vincent