As a result, when I added the legal entity to my accounting facility, I had to join both legal entities. However, this was unacceptable. Tax relevance: 1) For the e-business tax, a tax system can be assigned to a legal entity, and then one or more business units of that legal entity can optionally share the tax configuration. (2) The registration defined in the registration of the legal entity is the source of the defaults of the legal entity. The control profile of the installation, in turn, feeds the invoice from in RA and the invoice to/send to in the access point. 3) The checkbox on the legal entity controls the self-assessment of taxes. For Canada, the GST and HST for imported goods must be assessed themselves. Be sure to update the legal entity to reflect this after it is created If you have multiple legal entities, you must also create records as children of the legal entity. Be sure to put «self-assessment» on the right value when creating additional legal facilities. We have a single ledger with a number of facilities. At present, we do not have internal subcontracting transactions. All internal companies of the company have been registered. Our environment includes quote-to-cash ratio, core financial data, procurement-to-payment, assets and project costing.
Business Unit: Assign business units to the frequent contact logbook to partition the subsystem`s transaction data when multiple business units are accounting in the context of one or more legal units. At least one business unit must be defined for each legal entity and each set of books. Business units are also referred to as «organizations.» This request consists of setting up several new entities that will carry out intra/inter-company transactions between the existing branch and between the new companies. For example, Old-Co will have internal transactions between New-Co1 and New-Co2, and New-Co1 will have intra-/intercompany transactions between New-Co2. I had a problem with the creation of legal entities in R12.0.4. When I created the legal entity, she created the legal entity twice and also created 2 records. I couldn`t disable any of them because any changes to one would affect the other. Legal establishment Legal entities first identify your organization to the competent judicial authorities, such as a national or international headquarters. First-party legal entities identify any office, service center, warehouse, and other location within the organization that has a tax liability. When you create a legal entity, the system automatically creates a legal entity. You can create additional legal branches according to your needs. For each legal establishment, there are one or more tax registrations, depending on the tax requirements of the competent tax authority.
Below is the list of tables concerned when creating territories, jurisdictions, legal entities, entities and registrations: Tax relevance1) The registration defined on the legal establishment feeds the invoice From in RA and the invoice to/Shipped in AP. These addresses are taken into account when your tax rules use them as the basis for calculating the tax. 2) The checkbox on the legal service controls the self-assessment of taxes. For Canada, the GST and HST for imported goods must be assessed themselves. Be sure to update the legal establishment to reflect this after its creation Legal Entity: A legal entity is a uniquely identified legal entity to which rights and obligations under commercial law are transferred by registering with the competent judicial authority of the country. Legal entities are accountable to corporate regulators, tax authorities and owners in accordance with the rules set out in the relevant legislation. However, keep in mind that this is not a recommended solution. 3. Enter detailed information in the body, including the oracle product and version. Don`t have a My Oracle Support Community account yet? Click here to get started.
Tax relevance: The business unit, together with the legal entity, represents two levels at which the tax content can be held and the tax facility can be realized. In version 12, legal entities «own» one or more business units, which in turn «own» transactions. When I checked, even the court was created twice. Going through the tables above and removing the inappropriate rows resolved the issue. New to my Oracle support community? Visit our Welcome Center To view all the details, sign in to My Oracle Support Community. Responsibility: Legal Entity Manager Navigation: Legal entities > Create a legal entity 2. Enter a title that uniquely identifies the topic of your question. Ledger: Also known as a set of books in versions 11i and earlier, this is the object that has the accounting structure used for transactions. Please comply with the Oracle Community Guidelines and do not post customer or personally identifiable information (PI/CI). The location of the business unit is derived from the register of legal establishment mentioned in section 3 above, the share of new-co the same certificate of authenticity, the same currency and the same calendar.