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Oracle R12 Financials Enhancements Cheat Sheet – > EBTax

Posted on January 15th, 2011 by Sanjit Anand ||Email This Post Email This Post

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This is New Product in R12 which provides the infrastructure for transaction tax knowledge management and delivery using a global system architecture that is configurable and scalable for adding country specific tax content.

  • Modules Integrated with EB Tax:
    • Oracle Purchasing
    • Oracle Internet Procurement
    • Oracle Receivables
    • Consigned Inventory
    • Oracle Payables
    • Oracle Intercompany Invoicing
    • Oracle Order Management
    • Oracle Trade Management
    • Oracle Services Contracts
    • Oracle Order Capture/iStore/Quoting
    • Oracle Internet Expenses
    • Oracle Project Accounting
    • Oracle General Ledger
  • Configuration Options & Provider Service Subscriptions: Users using a subscription model can share the tax setup. The owner of tax setup data is defined as a Configuration Owner and can be an Operating Unit or a Legal Entity.
  • Events and Configuration Owner Options: Tax Events model allows E-Business Suite applications to map their various documents and actions across applications into corresponding tax event classes and tax event types.
  • Tax Configuration Manager: This component is responsible for creating and maintaining the structural foundation of tax, the building blocks.
  • Tax Determination Services: This component calculates transaction taxes based on transaction details and tax setup information.
  • Centralized Tax Record Repository for Audit and Reporting
  • Tax Reporting: Tax Reporting is flexible enough to provide data in a user-friendly format that allows the standard and identified country specific requirements to be met.
  • Tax Simulator: This user interface help the tax manager simulate the effect of a new rule or new ‘incremental’ setup data, such as a new tax rate.
  • Guided Configuration: Enables a tax manager, i.e., an expert in the domain of tax, to configure the system to meet the tax requirements in one or more countries.
  • Additional Enhancements:
    • Deferred Tax in Payables
    • Enhanced handling of Tax on Freight
    • Sales and Use Tax in procurement
    • Enhanced exemptions and exceptions
    • Multiple Tax Registrations
    • Multiple Recovery types
    • Tax reporting codes
    • Cash as well as Accrual Basis reporting for tax
    • Enhanced handling of Tax on Intercompany Movements
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