transaction tax reports
TRANSCRIPT
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Table of Contents
1. Purpose of the document ............................................................................................................................................... 2
2. Assumptions and Prerequisites ....................................................................................................................................... 2
3. Transaction Entry ............................................................................................................................................................ 3
4. Common Report Parameters .......................................................................................................................................... 5
5. Other Parameters ........................................................................................................................................................... 7
6. Report source .................................................................................................................................................................. 8
7. Financial Tax Register ...................................................................................................................................................... 8
8. Tax Audit Trail Report ................................................................................................................................................... 11
9. Tax Register Report ....................................................................................................................................................... 13
10. Tax Reconciliation Report ......................................................................................................................................... 16
11. Tax Reconciliation by Taxable Account ..................................................................................................................... 18
12. Interim Tax Register Report ...................................................................................................................................... 20
13. Sales Tax Report ........................................................................................................................................................ 22
ERP CLOUD
Transaction Tax Reports
Fusion Financials for EMEA
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1. Purpose of the document
Transaction tax reports contain reports for reconciliation, audit, management and business reporting. All these reports
are aimed to help you keep tax ledgers and tax reporting in order.
This document explains the implementation and usage guidelines for the following transaction tax reports:
Financial Tax Register Report - reports tax information created in Oracle Fusion Receivables, Oracle Fusion
Payables and Oracle Fusion Tax repository, including recoverable and non-recoverable taxes.
Tax Audit Trail Report - identifies detailed tax and invoice information and the total amounts for each tax rate
code in the ledger currency.
Tax Register Report - identifies total tax amounts by tax type, tax class and company to include exempt amount
and total tax amount for transactions entered in Oracle Fusion Receivables and Oracle Fusion Tax repository.
Tax Reconciliation Report - lists the transaction line amounts and tax amounts, by tax account, of all Oracle
Fusion Receivables and Oracle Fusion Tax repository taxable transactions for a given period.
Tax Reconciliation by Taxable Account Report - lists taxable transaction information for Oracle Fusion Payables,
Oracle Fusion Receivables and Oracle Fusion Tax repository transactions. Generates subtotals by company, tax
type, taxable account and tax rate code.
Sales Tax Report - provides all of the transaction details from Oracle Fusion Receivables and Oracle Fusion Tax
repository including invoices, credit memos, adjustments and tax repository entries. It is used as the basis for
the periodic sales tax returns required by each state. Also, provides a summary of the total amount exempt for
each reason.
Interim Tax Register - identifies detailed and summary information of unpaid or partially paid Payables and
Receivables transactions that have tax liability created at the payment date.
The document explains the pre-requisite setup, important transaction entry aspects, report output details and the
business flow. The transaction tax reports can be used for any country without any country specific setup. In this
document we are using examples from a Spanish tax setup for illustrations.
2. Assumptions and Prerequisites In this document, the following entities are assumed to have already been set up:
Data Security
Geographies
Enterprise Structure
Tax Regime to Rate setup
Tax Party Profiles
Tax Rules
Suppliers
Customers
Procurement Business Function
Common Options for Payables and Receivables
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It is recommended that the ‘Implementation Project’ is complete for your organization before you enter transactions
and use the transaction tax reports.
There is no specific setup that needs to be completed solely for running the transaction tax reports.
3. Transaction Entry Navigation: Navigator –> Receivables -> Billing
The receivables transaction below is an example used in the sample report outputs later on in this document.
The invoice lines have the following tax rates applied:
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The following accounting has been created for the invoice:
Navigation: Navigator –> Payables -> Invoices
The payables invoice below is an example used in the sample report outputs later on in this document.
The invoice lines have the following tax rates applied:
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The following accounting has been created for the invoice:
4. Common Report Parameters The transaction tax reports use several common parameters across multiple reports as described in the table below.
Parameter Name Required Description
Reporting Level Yes Select Ledger, Legal Entity or Tax Registration Number based on
your reporting needs.
Reporting Context Yes – if Reporting
Level is Ledger or
Legal Entity
Select from the list of ledgers or legal entities. The list depends
on the value of the Reporting Level parameter.
Tax Registration Number Yes - if Reporting
Level is Tax
Registration
Number
Select from the list of Tax Registration Numbers. This parameter
is optional if Reporting Level is Legal Entity and mandatory if
Reporting Level is Tax Registration Number. Users can create a
group of legal entities with the same Tax Registration Number
that composes so called VAT Group Registrations. Reporting by
Tax Registration Number provides the option to report for
multiple legal entities using the same Tax Registration Number.
Reports can be run for a VAT Group as long as the related legal
entities are associated with the same primary ledger.
Company Name No Select the company name to be printed in the report header if
the Reporting Level is Ledger.
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Parameter Name Required Description
Summarization level Yes Select the summarization level based on your reporting needs.
It is available only for some of the reports. It is possible to
include or exclude transaction lines or run the report at
transaction, transaction line or distribution level. The reports
for which different summarization level options are available
are
Financial Tax Register
Tax Register
Tax Reconciliation Report
Sales Tax Report
Date range parameters None are
mandatory, but at
least one pair of
the from/to dates
has to be specified
Enter the accounting/transaction/tax point date ranges to filter
transactions. This is available for most reports. Reports run by
tax point date range display only transactions that reached their
tax point date event. For example, transactions that have tax
point basis set to payment date will not be reported until they
are paid and reports are run by tax point date range. The
Interim Tax Register is an exception to this rule (see details in
the Interim Tax Register Report section).
Tax Regime, Tax, Tax
Jurisdiction, Tax Rate
No Select from the list to filter transactions based on the specific
regime, tax, rate etc that they are associated with.
Tax Reporting Type, Tax
Reporting Code
No These parameters provide the possibility to set up a user
defined criteria for tax reporting. The tax reporting types can
be associated with several tax entities. For example, set up Tax
Reporting Type and Tax Reporting Codes to identify the type of
supply e.g. Goods or Services and select from the list to filter for
transactions based on type of supply.
Transfer to General
Ledger
Yes Select to filter transactions based on the transferred status to
include only transferred, not transferred transactions or all
transactions regardless of transfer status.
Include parameters No except for some Some of the reports have a range of ‘include’ parameters that
enable the users to have only specific types of transactions on
the report output. For example, select ‘Include Invoices’ as
‘Yes’ and other Include parameters to ‘No’, to include only
invoices in the report. By default all these parameter are set to
include the widest range or transaction types. To narrow the
report scope down the user has to update the values to ‘No’ for
the transaction types that are to be excluded.
Include Finally Reported No Select the value as ‘Yes’ to select only finally reported
transactions or enter ‘No’ to report only on transactions that
are not yet finally reported. This parameter is used in countries
where the transactions are required to be ‘finally reported’ at
the end of the tax reporting period. By default this parameter is
set to include all transactions.
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5. Other Parameters
The transaction tax reports use several other parameters unique to some reports as described in the table below.
Parameter Name
Description Financial Tax
Register
Tax Audit Trail
Report
Tax Reconcilia
tion Report
Tax Reconcilia
tion by Taxable Account
Tax Register Report
Interim Tax
Register Report
Register Type Select to report only
recoverable taxes, non-
recoverable taxes or both
recoverable and non-
recoverable taxes
√ X X X √ X
Accounting
Status
Select to report only
accounted transactions,
only unaccounted
transactions or both
accounted and
unaccounted transactions
√ X X X √ X
Order By Select among the different
options to display the
report
X √ X X √ X
Currency/Curr
ency range
Select to filter transactions
based on currency
√ X X √ √ X
Accounting
Period range
Select to filter transactions
based on accounting
period
X √ X X X X
Account Specify different
conditions for account
code combinations to filter
transactions
X X √ √ X X
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6. Report source The following table lists the source supported by each transaction tax report.
Source Financial Tax
Register
Tax Audit Trail
Report
Tax Register Report
Tax Reconciliation
Report
Tax Reconciliation
by Taxable Account
Tax Register Report
Interim Tax Register Report
Input Tax √ √ X X √ X √
Output Tax √ X √ √ √ √ √
Input tax transactions include documents entered in Oracle Fusion Payables, and purchase journals and purchase
transactions entered in tax repository (also known as manual tax journals). Output tax transactions are documents
entered in Oracle Fusion Receivables, and sales journals and sales transactions entered in tax repository (manual tax
journals).
7. Financial Tax Register Navigation: Navigator –> Tools -> Scheduled Processes
The Financial Tax Register Report has many parameters to help the user to get the specific information on the report
output. Use the Financial Tax Register to export tax records. Define BI Publisher templates based on the information
needed for your requirements to facilitate data extraction in various formats such as Excel and CSV.
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Financial Tax Register Report includes transactions from Oracle Fusion Payables, Oracle Fusion Receivables and Oracle
Fusion Tax Repository. The report can be used to review individual transactions, item and tax amounts before tax is
declared. Accounting information is also included when the report is run at distribution level.
If the report is run by transaction date range, the transaction date is included in the report output. If the user runs the
report by from/to accounting date, the accounting date of the transaction is reported. Specifying the from/to tax point
dates at report submission means that the tax point date is reported on the output.
The report output shows the list of transactions that meet the reporting criteria in the entered currency. It includes
transactions from payables, receivables and also tax journals (external tax transactions) showing the item and tax
amounts with the third party name and tax registration number included. There is a column for related transaction that
shows for example the identifier of the original transaction for adjustments or the invoice associated with a credit
memo.
There is a possibility to run the Financial Tax Register report by tax register type. The interim tax register part of the
report has been removed and this requirement is met by providing the new Interim Tax Register Report.
The report can be run for non-recoverable tax register which for payables transactions displays the non-recoverable part
of the tax rate applied.
The data extract also includes several other attributes that are not displayed on the standard report output. It is
possible to customize the report templates (for all reports) and include/exclude transaction attributes as required.
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8. Tax Audit Trail Report Navigation: Navigator –> Tools -> Scheduled Processes
The Tax Audit Trail Report can be used to reconcile payables invoices and external tax transactions at end of the
accounting and/or tax reporting period. The report can be submitted using the following parameters:
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The Tax Audit Trail report includes transactions from Oracle Fusion Payables and Oracle Fusion Tax Repository. The
report has two possible layouts and they are used based on the value selected for the ‘Report Order by’ parameter.
When the report is ordered by invoices the data on the report output is grouped by accounting periods regardless of
what taxes are applied to the invoices. Period totals and invoice count is also displayed for each accounting period as
well as for the entire report.
When the report is ordered by tax code the data is grouped by tax rates, but also displayed by the accounting period
within the same tax rate. Total amounts are provided for each period, tax rate and there also totals for the entire
report.
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9. Tax Register Report Navigation: Navigator –> Tools -> Scheduled Processes
The Tax Register Report has many parameters to help the user to get the specific information on the report output:
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The Tax Register Report includes transactions from Oracle Fusion Receivables and entries from Oracle Fusion Tax
repository. It includes more detailed information about each transaction than the Financial Tax Register report including
Transaction header information as transaction number, related transaction, transaction type, third party
information including name, site and TRN, total transaction line and total tax amount
Transaction line level information as line number and description, line and tax amount, tax rate name and rate
(%) and tax exemption reason.
The report is summarized for currency, tax type and tax rate
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10. Tax Reconciliation Report Navigation: Navigator –> Tools -> Scheduled Processes
The Tax Reconciliation Report has the following report parameters to help the user to perform the required account
reconciliation:
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The Tax Reconciliation Report lists the transactions entered in Oracle Fusion Receivables and entries from Oracle Fusion
Tax repository, by the tax account. The report does not include information regarding to the tax rate, tax jurisdiction or
tax regime.
The report has an account filter parameter that allows you to specify criteria based on any segment of the accounting
code combination. For example, you can filter on a single Natural Account or a range of Natural Account values.
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11. Tax Reconciliation by Taxable Account Navigation: Navigator –> Tools -> Scheduled Processes
The Tax Reconciliation by Taxable Account Report has many parameters to help the user to get the specific information
on the report output:
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The Tax Reconciliation by Taxable Account Report lists transactions from Oracle Fusion Receivables, Oracle Fusion
Payables and entries from Oracle Fusion Tax repository. Unlike in the Tax Reconciliation report, transactions are
grouped by the taxable account (typically the expense account in payables and the revenue account in receivables).
Data are also grouped by company, tax type and tax rate which is also different from the tax reconciliation report.
12. Interim Tax Register Report Navigation: Navigator –> Tools -> Scheduled Processes
The Interim Tax Register Report has fewer parameters than most transaction tax reports mainly because the report has
been designed to display a specific type of transactions.
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The Interim Tax Register Report helps to plan for tax liability due in the future. The report output includes tax amount
for transaction lines where the tax becomes liable only after the transaction has been fully or partially paid. In such
cases, the tax rate applied to the transaction has the tax point date set as the payment date. Payables and Receivables
transactions appear on the Interim Tax Register report until they are fully paid.
The report lists transaction at line level and the summary sections have totals by Tax Rate Codes and Tax Rates.
The report also has the option to print reporting sequences associated with the transactions. If used, the user can
specify what should be the starting sequence number for the first transaction printed on the report. If Print Sequence
Number is ‘Yes’ and From Sequence Number is blank, the report prints reporting sequences starting with ‘1’.
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Once the invoices are fully paid, they will no longer appear in the Interim Tax Register report.
13. Sales Tax Report Navigation: Navigator –> Tools -> Scheduled Processes
The Sales Tax Report has the following submission parameters:
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The main difference between the Sales Tax report and other transaction tax reports is that the Sales Tax report focuses
on reporting by tax jurisdictions that are set up based on geographic location e.g. tax jurisdiction for states, counties and
cities.
The report provides detailed transaction header and line level information including the transaction type and number,
third party information, tax rate and tax rate code, exemption reason if any, and line and tax amounts.
As mentioned above, the information is grouped by tax jurisdiction and totals are provided for each transaction type
within the tax jurisdiction and for the whole tax jurisdiction for the reported period.
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