Does patch 12726737 meet all the requirements?
There is a patch ‘For automated tax date for AP and AR transactions – patch 12726737 – Used for ECE reports’ from Oracle that will apply a tax date to every transaction (subject to the country linked to the OU). What this means is that whilst an invoice, either in AP or in AR can have an invoice (or transaction) date, the tax date will default based on the GL date.
For AP this means that if an invoice was entered in March that has an invoice date of January, whilst the tax rate itself is determined based on the invoice date, the tax date will default to the GL date of March if no manual tax date is entered. This is how Oracle currently do things by using the GL date but this is in fact not correct and an SR will be raised. The issue is that if we close the period within 5 days after 31st Jan, we have not necessarily closed the tax period. With most countries, the tax return has to be done before the end of the next month. This means that most companies can still receive and enter invoices for January in the February GL period and include them on the January return. If we base this on the tax date and the tax date defaults from the GL date and the GL date is based on the system date then those January invoices entered in February only be reported in February. We will need to raise an SR on this.