Validation Rules (VAT and Investment Tax Calculation)


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Validation Rules (VAT and Investment Tax Calculation)

Oracle Financials lets you define controls between tax codes and specific accounts. You will get an error message if you enter the wrong combination. You can define the actual error message.

Define cross-validation rules to prevent incorrect Accounting Flexfields combinations from being created. There are no restrictions for the account combinations that you can use; however, you should create the following rules:

No VAT on balance sheet accounts

No output VAT on expense accounts

No investment tax on any items except expense accounts

No input VAT on revenue accounts

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