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Solutions for Oracle Release 12 and E-Business Tax

Posted on October 12th, 2012 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

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With Release 12, Oracle introduced a new tax framework called E-Business Tax .

The new tax module includes the capability of integrating with 3rd party tax applications, such as Vertex O Series, for an even greater level of tax compliance and efficiency. Vertex is the only tax solution provider selected as Oracle's testing partner for E-Business Tax.

Vertex Sales Tax O Series Link for Oracle Integrates with the following Oracle modules:[ Adopted from Vertex Documentation]

  • Order Management
    • Estimation of Sales Tax on Standard Sales Orders (real time calculation)
  • Accounts Receivables
    • Calculation of Sales Tax on Standard AR Invoices
    • Credit memos/Debit memos & Adjustments
    • Recurring invoices
    • Manual invoices
  • iReceivables (credit memo requests)
  • Service & Project Billing (via AutoInvoice to AR)
  • CRM (iStore and Quoting via Order Capture)

Vertex Consumer Use Tax O Series Link for Oracle Integrates with the following Oracle modules:

  • Payables
    • Verify vendors charged sales tax or self-accrue use tax
  • Purchasing
    • Estimate sales tax on POs, and update committed spend in Projects
  • Inventory
    • Self-accrue use tax on material transaction movements

Vertex Oracle1

 

Features and Functionality of the Vertex Tax Links for Oracle:

  • Provides real-time response and batch-mode processing options
  • Provides a Client Extension for customer specific tax element sourcing rules
  • Enhances address validation functionality in Oracle E-Business Suite
  • Includes configuration forms to control tax settings at an Oracle operating unit level, as well as specific jurisdiction levels
  • Updates the Vertex Journal to record use tax, and synchronizes Oracle and Vertex

The final result is an integrated solution allowing to focus on adding value to their business through increased flexibility to manage day-to-day as well as more strategic tax related business issues.

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