Intra European Sales Reporting

Transcription

1 Intra European Sales Reporting ERP CLOUD Oracle Financials for EMEA Table of Contents 1. Purpose of the document Assumptions and Prerequisites Feature Specific Setup... 3 Legal Reporting Unit Tax Profile... 3 Tax Reporting Types and Codes... 3 Tax Rate Setup Transaction Entry in Receivables Reporting... 7 European Sales Listing Report

2 1. Purpose of the document This document explains the implementation and usage guidelines for the European Sales Listing Report. The report lists a summary or details of intra-eu services, goods or triangulation transactions. Use the report to declare sale of goods and services rendered within the European Union to VAT-registered customers in other EU countries. The document explains the pre-requisite setup, important transaction entry aspects and the report output details. 2. Assumptions and Prerequisites In this document, the following entities are assumed to have already been set up : Data Security Refer to the Fusion Security topical essay available on cloud.oracle.com Geographies Enterprise Structure Tax Regime to Rate setup Tax Party Profiles Tax Rules Suppliers Customers Document sequences Procurement Business Function Common Options for Oracle Receivables Receipt Classes and Methods It is recommended that the Implementation Project is complete for your organization before commencing the Feature Specific Setup outlined below. If you require further details, refer to the Analyze and Report section of Oracle Financials Cloud (Get Started) web site. 2

3 3. Feature Specific Setup Legal Reporting Unit Tax Profile Task name: Manage Standard Lookups Navigation : Navigator > Setup and Maintenance -> Manage Legal Reporting Unit Tax Profiles The European Sales Listing Report requires that the Tax Registration Number (TRN) is populated in the Tax Registration record of the Legal Reporting Unit tax profile. Search for Legal Entity on the Manage Legal Reporting Unit Tax Profiles page for which you need to define the Tax Registration Number (TRN). Select the record in the Search Results and click on Edit. On the Edit Legal Reporting Unit Tax Profile page navigate to Tax Registrations tab. A tax registration record should exist with a TRN. If it does not exist, create a new registration record with the TRN. The report is run for Trader VAT Number which is mandatory. Choose the TRN created in this step as the Trader VAT Number to run the report. Tax Reporting Types and Codes 3

4 Task name: Manage Tax Reporting Types Navigation : Navigator > Setup and Maintenance -> Manage Tax Reporting Types Set up Tax Reporting Codes to group transactions for reporting purposes. The grouping is achieved by assigning the Tax Reporting Codes to the tax rate(s) that relate to your Intra-EU transactions. The example shows two tax reporting codes for Goods and Services defined. The assignment to the tax rates is described in the next section. The codes defined here are shown in the report output in Summary as well as Detail mode. Define codes based on the need e.g. instead of defining them as Goods, Services and Triangulation define them as 0 for Goods, 2 for Triangulation and 3 for Services. Tax Rate Setup Task name: Manage Tax Rates and Tax Recovery Rates Navigation : Navigator > Setup and Maintenance -> Manage Tax Rates and Tax Recovery Rates Assign the Tax Reporting Codes to the tax rate(s) that relate to your Intra-EU transactions. The European Sales Listing Report is run by specifying a Tax Reporting Type and a Tax Reporting Code so that the report can identify which transactions relate to your Intra-EU Transactions. 4

5 Therefore, the tax rates codes that relate to your Intra EU Transactions need to have the Tax Reporting Type Code associated to the tax rate. 5

6 4. Transaction Entry in Receivables Task name: Create Transaction Navigation : Navigator > Receivables Billing -> Create Transaction Create Intra EU Receivables transactions for Goods and Services. The transactions should have the same tax rates which are assigned the tax reporting codes. Complete the transactions. 6

7 5. Reporting European Sales Listing Report Navigation : Navigator > Tools -> Scheduled Processes Run the report for the Trader VAT Number. Choose the Tax Reporting Type and Tax Reporting Code that you setup earlier. Run the report with Summarization Level of Detail to see the transaction details and with Summarization Level of Summary to see the summary level amounts. 7

8 8

9 9

10 Oracle Corporation, World Headquarters Worldwide Inquiries 500 Oracle Parkway Phone: Redwood Shores, CA 94065, USA Fax: C O N N E C T W I T H U S blogs.oracle.com/oracle facebook.com/oracle twitter.com/oracle oracle.com Copyright 2017, Oracle and/or its affiliates. All rights reserved. This document is provided for information purposes only, and the contents hereof are subject to change without notice. This document is not warranted to be error-free, nor subject to any other warranties or conditions, whether expressed orally or implied in law, including implied warranties and conditions of merchantability or fitness for a particular purpose. We specifically disclaim any liability with respect to this document, and no contractual obligations are formed either directly or indirectly by this document. This document may not be reproduced or transmitted in any form or by any means, electronic or mechanical, for any purpose, without our prior written permission. Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners. Intel and Intel Xeon are trademarks or registered trademarks of Intel Corporation. All SPARC trademarks are used under license and are trademarks or registered trademarks of SPARC International, Inc. AMD, Opteron, the AMD logo, and the AMD Opteron logo are trademarks or registered trademarks of Advanced Micro Devices. UNIX is a registered trademark of The Open Group White Paper Title October