Does patch 12726737 meet all the requirements?

patch 12726737

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.

Andrew Bohnet
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Andrew Bohnet

Managing Director and Oracle Fusion Tax / eBTax expert at eBiz Answers Ltd
Andrew Bohnet is the current chair for the Oracle Tax Management SIG. He founded eBiz Answers to offer clients complete tax solutions making the most of the rich functionality of the R12 and Fusion tax modules. Whether it is analysis, design, configuration or support, eBiz Answers provide an unparalleled service when it comes to a complete tax solution. Having worked on one of the first Oracle R12 implementations in Europe, Andrew was exposed to the tax module early on and worked closely with Oracle to fix bugs, enhance functionality and present on numerous occasions on the subject of tax and Oracle. When it comes to presenting on eBTax, you wont find a more experienced consultant outside of Oracle.
Andrew Bohnet
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