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You have modified your tax setup and want to test the changes on actual Payables transactions. How do you validate before enabling for transaction?
Run taxes from all applicable tax regimes against a sample transaction to verify that your tax configuration and tax rules were created and applied according to yourrequirements. You can either create a sample transaction within Tax Simulator or copy an existing transaction. The simulated tax calculations do not affect live data.
Note:The Tax Simulator is a tool for simulating the tax determination process in your tax setup. The Tax Simulator lets you preview the workings of your tax configuration before you perform tax calculations on live transactions in a subledger application. TheTax Simulator also allows you to test new tax configuration in conjunction with existing tax configuration to preview the resulting tax calculation. The Tax Simulator is a useful tool to identify the root cause when tax calculation is not what is expectedon live data.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAFTT/F1006654AN226D8.htm
Which three options are available to filter data when you submit the Prepare Payables to Ledger Reconciliation report? (Choose three.)
Typically General Ledger users are secured by data access sets. Data access sets use primary balancing segment values to secure access to ledgers, ledger sets, and portions of ledgers. Payables users are secured
by business units.
For the Payables to General Ledger Reconciliation report:
General Ledger users can see general ledger data for the balancing segment values in their data access set. General Ledger users can also see the Payables or Oracle Fusion Subledger Accounting data for all
business units linked to the ledger.
Payables users can see the Payables and Subledger Accounting data for business units in their security definition. Payables users can also see general ledger data for all balancing segment values in the ledger.
Certain suppliers that your customer regularly deals with are exempt from tax. How would you configure tax for this?
A company has a requirement to pay small suppliers outside of Payables, but it does not want to manually record each payment.
Which solution should you implement?
When you create a payment outside of Payables, for example, using a typed check or wire transfer, within Payables you can record the payment and update the invoices that you paid.
When creating a check payment, from where is the payment document defaulted?
Create Check
This step shows how to create a check to pay the customer for theclaim. The customer will be paid with the designated amount in Oracle Payables.
Navigation: Actions > Pay in Full.
Notes:
Bank Account: Select BofA.
Document: Select Check.
References:https://docs.oracle.com/cd/E18727_01/doc.121/e16295/T544851T544993.htm
