Thanks for your efforts .. Can you also explain how the implementation process in real time and preparation of BR100 and MD 50 and other requirement docs.
Hi Aravind, Its very clear and nice explanation on with holding tax. Could you please make a video on how to post journals related to the mass allocation to one specific user.
Hi Aravind ...can you make a video on credit holds of the customer for the new as well as old customers also..for a existing project what are the things to be taken care... Existing customers exceeding the credit limits and how to control this??
Thank you for your videos! This is really helpful. Can you please provide on oracle payments setups and end to end of processing of payments also for all the payment methods EFT,Wire and Clearing.
Thanks for the video,i did not get the amount range concept of WHT,So if the infoive amount is 10k then what would be the percentage ,is it 0 or 2,which range the system considering?
Sorry, ideally, i should have mentioned the range as "0" to "10000" for 0% and 10001 to 20000 for 2%... ... with this range, WHT will be "0" for 10,000
Hi Azad, as you would have seen in the video, at supplier site, we can assign only WHT groups and not WHT Tax codes and hence its mandatory to create WHT groups and then assign the same under Supplier Sites
Hi Arvind Thanks for your video. Can you please tell the difference of Recoverable and Non Recoverable tax and it's difference in terms of concept and accounting in Ap module (assuming a simple case of a non po invoice)
In layman terms, recoverable means you can recover the tax paid.... Tax paid in AP is called Input tax and tax in AR is called Output tax... What ever we collected in AR needs to be paid to Govt.... Whatever we have paid in AP and which is treated as Recoverable (Based on tax laws), that recoverable AP tax can be offset again AR tax... only net amount needs to be paid to Govt... Ex:- If tax collected in AR is say 100 dollars and in AP recoverable tax paid is say 20 dollars...then net only 80 dollars (i.e. 100 -20) needs to be paid to Govt
Thanks for the video. When amount range is selected for withholding but withholding tax is calculated after deducting GST/VAT from invoice amount. How to deal with it?
@@OracleEbizandFusionVideos my requirement is excluding GST/VAT. But can you show both demo? Another query is when supplier WHT is calculated on cumulative amount in a financial year then what is the procedure?
Hi Arvind, In oracle financial cloud fusion,If we have secondary balancing segment enabled(suppose LOB is secondary balancing segment and Company is Primary balancing segment)then will the journals will be balanced at secondary balancing segment as well(at LOB) and can we generate balance sheet for secondary balancing segments?? Could you please resolve this doubt
It all depends upon the law of the country. Some countries say WHT invoice needs to be created during Payment and some countries say WHT invoice needs to be created during Invoice creation. Depending upon the requirement, WHT options needs to be setup in AP Payables Options
I need to understand the AP Withholding Invoice Accounting Entries with their sources for the below Withholding Tax Options. Calculation Point : Payment Tax Invoice Creation Point : Payment
Please see below accounting entries for With holding tax amount of say 10 on expense of 100 When AP Invoice is created:- Exp A/c Dr 100 AP Liability A/c Cr 100 When Payment is made:- AP Liability A/c Dr 100 Bank A/c Cr 90 Withholding Tax Payable A/c cr 10 When WHT invoice is created in the name of Tax Authority:- Withholding Tax Payable A/c Dr 10 AP Liaibility A/c Cr 10 When payment is made for this WHT invoice:- AP Liability A/c Dr 10 Bank A/c Cr 10
Unrelated question: how can i schedule my payments in AP? as an example when i record an invoice i want to pay in 5 payments in different dates accordingly with my cash in? and if that possible there is any alerts can alarm me at this dates? and also can i connect this payments dates with my cash in dates or AR dates ?? thank you for your effort
There are separate vidoes on Oracle AP PPR process in my channel. PPR process can be scheduled to run on daily basis and it picks up the invoices which are due on those dates. With regard paying one invoice in five different instalments, you can create one invoice with five payment schedules (you can achieve this by creating appropriate payment terms and assigning the same to invoice or else you can manually create 5 payment schedules lines for a invoice). When PPR runs then it accordingly makes the payment of the amount mentioned in AP payment schedules tab of invoice
@@OracleEbizandFusionVideos can you past the video link here or maybe make a new videos to explain that ? and you need to know that i am a user i have no access to setup anything but i will ask the IT to do it after i understand it correctly thank you in advance
Hi sir... since we are aasigning wht group in site level how does ststem know which tax code to pick up idlf in case of multiple tax code in same group
As we are assigning WHT Group, system picks up all WHT codes under that group.. If you have a requirement of only one WHT code, then create a WHT group and assign only that single WHT code in the WHT group
Oracle Ebiz and Fusion Videos That helps... in case of multiple codes in same group will it be always manual thing to apply tax code in ap invoice or can there any defaulting be done
hello i need solution I deduted 4 % tax on invoice but tax not paid but now situation is that we will paying only 1% & remaining 3 % will be paid to Supplier. What entry should make that reflect in ledger properly.
I assume your Invoice amount is say 1000 USD When WHT was calculated at 4%, the below journal entry would have been created (as part of WHT invoice in the name of Income tax Authority) WHT Payable A/c Dr 40 AP Liability A/c Cr 40 Now, you do not want to pay 30 dollars to Income tax authority, so create a Credit Memo against the above invoice which will generate the below entry:- AP Liability A/c Dr 30 WHT Payable A/c Cr 30 Now, Create another invoice in the name of Vendor which would create the below journal entry:- WHT Payable A/c Dr 30 AP Liaiblity A/c Cr 30
Hi, Based on your request, i had created my first video on EB-tax. Stay tuned to my channel for more videos on Ebtax:- th-cam.com/video/BUZgfUuXVTE/w-d-xo.html
I mistakenly took this training www.udemy.com/course/oracle-apps-r12-financials-training from Udemy and what a blunder it is,thank god i have some knowldege of product and Finance otherwise, if i were a fresher then i think my whole future would have ruined....m really very angry on such trainers which mislead their students...
![[Live] : ONE 169 วันนี้!! "อนาโตลี vs อูมาร์"](http://i.ytimg.com/vi/IK3YZVWuFJg/mqdefault.jpg)
Thank You sir great video and perfectly explained
Glad it helped
Thanks a lot for your training sir, which is very helpful for me
Keep on your good work.
Thanks for your feedback
Thank you so much love your videos
Thanks for your feedback
Very well explained. Thank you so much!
You're very welcome!
Thanks for your efforts ..
Can you also explain how the implementation process in real time and preparation of BR100 and MD 50 and other requirement docs.
Hi, I can help you on this, can you ping me on my facebook page:-
facebook.com/CAArvindVaraganti/
Thank you sir
Welcome
Great
Thanks
Hi Aravind,
Its very clear and nice explanation on with holding tax.
Could you please make a video on how to post journals related to the mass allocation to one specific user.
There are already two videos on GL Mass Allocations on my channel. You can check them
Videos are awesome. keep it up.
Thanks for feedback
Nice, I watch all Ur videos. Could you make video on recurring invoice, interest invoice
Please see the below video on AR Recurring invoices which i had created couple of weeks back:-
th-cam.com/video/M3K-h_I3IRc/w-d-xo.html
Thanks for sharing this video.
Thanks
Hi Aravind ...can you make a video on credit holds of the customer for the new as well as old customers also..for a existing project what are the things to be taken care...
Existing customers exceeding the credit limits and how to control this??
Noted... I will
Thank you for your videos! This is really helpful. Can you please provide on oracle payments setups and end to end of processing of payments also for all the payment methods EFT,Wire and Clearing.
Sure
good sir
Thanks and keep following my channel
Hi Aravind,
Could you please do one video on explaining the Revenue Recognition process
There are already videos on AR Invoicing and Accounting rules on my channel. Please see below:-
th-cam.com/users/edit?o=U&video_id=ODkWIE6cRMI
Thanks for this video.... could you please provide video on Ar Application rule set and cash rule set concept
Sure. I will make a note of this and will try in my future videos
Thanks for the video,i did not get the amount range concept of WHT,So if the infoive amount is 10k then what would be the percentage ,is it 0 or 2,which range the system considering?
Sorry, ideally, i should have mentioned the range as "0" to "10000" for 0% and 10001 to 20000 for 2%... ... with this range, WHT will be "0" for 10,000
Whats the diffrence between TDS and withholding tax...
TDS and With holding tax are same... In India, we use the term "TDS"(Tax Deducted at Source), in other countries, the term "With holding Tax" is used
Arvind , can't we use WH Tax Codes individually on the invoice, is it mandatory to create tax groups?
Hi Azad, as you would have seen in the video, at supplier site, we can assign only WHT groups and not WHT Tax codes and hence its mandatory to create WHT groups and then assign the same under Supplier Sites
Is there a rest api made available to be able to create withholding tax type invoice?. @OracleEbizandFusionVideos
Hi Arvind
Thanks for your video. Can you please tell the difference of Recoverable and Non Recoverable tax and it's difference in terms of concept and accounting in Ap module (assuming a simple case of a non po invoice)
In layman terms, recoverable means you can recover the tax paid.... Tax paid in AP is called Input tax and tax in AR is called Output tax... What ever we collected in AR needs to be paid to Govt.... Whatever we have paid in AP and which is treated as Recoverable (Based on tax laws), that recoverable AP tax can be offset again AR tax... only net amount needs to be paid to Govt... Ex:- If tax collected in AR is say 100 dollars and in AP recoverable tax paid is say 20 dollars...then net only 80 dollars (i.e. 100 -20) needs to be paid to Govt
@@OracleEbizandFusionVideos so in AP module the recoverable tax account gets debited and liability get credited during invoice accounting correct?
Thats right
Hi Arvind, our requirement is to calculate WHT on total invoice amount including GST/VAT, what the setup for that?
Under Payable Options --> With holding Tax Tab--> With holding Basis -->Check the check box "Include Tax Amount" and retest
Thanks for the video.
When amount range is selected for withholding but withholding tax is calculated after deducting GST/VAT from invoice amount. How to deal with it?
Whether your requirement is to calculate WHT on total invoice amount including GST/VAT or on Invoice amount excluding GST/VAT?
@@OracleEbizandFusionVideos my requirement is excluding GST/VAT. But can you show both demo? Another query is when supplier WHT is calculated on cumulative amount in a financial year then what is the procedure?
Hi Arvind,
In oracle financial cloud fusion,If we have secondary balancing segment enabled(suppose LOB is secondary balancing segment and Company is Primary balancing segment)then will the journals will be balanced at secondary balancing segment as well(at LOB) and can we generate balance sheet for secondary balancing segments??
Could you please resolve this doubt
Yes, if you have secondary balancing segment enabled, then the journals needs to be balanced by both Primary and Secondary balancing segment
Can you do video on India Localisation?
I will add this topic to my to do list of topics
How different between WHT Tax create in AP Invoice and Create in Payment. When to use which one ?
It all depends upon the law of the country. Some countries say WHT invoice needs to be created during Payment and some countries say WHT invoice needs to be created during Invoice creation. Depending upon the requirement, WHT options needs to be setup in AP Payables Options
@@OracleEbizandFusionVideos thanks for reply
I need to understand the AP Withholding Invoice Accounting Entries with their sources for the below Withholding Tax Options.
Calculation Point : Payment
Tax Invoice Creation Point : Payment
Please see below accounting entries for With holding tax amount of say 10 on expense of 100
When AP Invoice is created:-
Exp A/c Dr 100
AP Liability A/c Cr 100
When Payment is made:-
AP Liability A/c Dr 100
Bank A/c Cr 90
Withholding Tax Payable A/c cr 10
When WHT invoice is created in the name of Tax Authority:-
Withholding Tax Payable A/c Dr 10
AP Liaibility A/c Cr 10
When payment is made for this WHT invoice:-
AP Liability A/c Dr 10
Bank A/c Cr 10
Unrelated question: how can i schedule my payments in AP? as an example when i record an invoice i want to pay in 5 payments in different dates accordingly with my cash in? and if that possible there is any alerts can alarm me at this dates? and also can i connect this payments dates with my cash in dates or AR dates ?? thank you for your effort
There are separate vidoes on Oracle AP PPR process in my channel. PPR process can be scheduled to run on daily basis and it picks up the invoices which are due on those dates. With regard paying one invoice in five different instalments, you can create one invoice with five payment schedules (you can achieve this by creating appropriate payment terms and assigning the same to invoice or else you can manually create 5 payment schedules lines for a invoice). When PPR runs then it accordingly makes the payment of the amount mentioned in AP payment schedules tab of invoice
@@OracleEbizandFusionVideos can you past the video link here or maybe make a new videos to explain that ? and you need to know that i am a user i have no access to setup anything but i will ask the IT to do it after i understand it correctly thank you in advance
Please see the video link for AP PPR process:-
th-cam.com/video/wIt7VXcYEoY/w-d-xo.html
Hi sir... since we are aasigning wht group in site level how does ststem know which tax code to pick up idlf in case of multiple tax code in same group
As we are assigning WHT Group, system picks up all WHT codes under that group.. If you have a requirement of only one WHT code, then create a WHT group and assign only that single WHT code in the WHT group
Oracle Ebiz and Fusion Videos That helps... in case of multiple codes in same group will it be always manual thing to apply tax code in ap invoice or can there any defaulting be done
In the case of multiple codes, system applies all the WHT codes in the WHT group to the invoice
hello i need solution
I deduted 4 % tax on invoice but tax not paid but now situation is that we will paying only 1% & remaining 3 % will be paid to Supplier. What entry should make that reflect in ledger properly.
I assume your Invoice amount is say 1000 USD
When WHT was calculated at 4%, the below journal entry would have been created (as part of WHT invoice in the name of Income tax Authority)
WHT Payable A/c Dr 40
AP Liability A/c Cr 40
Now, you do not want to pay 30 dollars to Income tax authority, so create a Credit Memo against the above invoice which will generate the below entry:-
AP Liability A/c Dr 30
WHT Payable A/c Cr 30
Now, Create another invoice in the name of Vendor which would create the below journal entry:-
WHT Payable A/c Dr 30
AP Liaiblity A/c Cr 30
Bro you create amount range tax is wrong kindly recheck
can i have this topic in fusion?
Sure... i will make a note of this topic to be covered in my fusion videos
Hi Sir, can u make a Session on EB-Tax
Sure. I will make a note of that and will try in my future videos
Hi, Based on your request, i had created my first video on EB-tax. Stay tuned to my channel for more videos on Ebtax:-
th-cam.com/video/BUZgfUuXVTE/w-d-xo.html
I mistakenly took this training www.udemy.com/course/oracle-apps-r12-financials-training from Udemy and what a blunder it is,thank god i have some knowldege of product and Finance otherwise, if i were a fresher then i think my whole future would have ruined....m really very angry on such trainers which mislead their students...