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Tax Configuration: Complete First Party Legal Entity Party Tax Profile

Posted by shameemakhtar on October 3, 2009


Platform: R12

Tax Manager –> Parties –> Party Tax Profiles

On the Tax Manager Homepage, click on the ‘Go to Task’ icon.

Search First Party Legal Entity - Tax Profile

Search First Party Legal Entity - Tax Profile

Ensure Party Types is ‘First Party Legal Entity’. Type in the Party Name and click on ‘Go’.

Party Tax Profiles

Party Tax Profiles

Click on ‘Update Tax Profile’.

Update Party Tax Profile - Main

Update Party Tax Profile

Configure the four sections as appropriate:

–          Main:

Party Tax Profile - Main

Party Tax Profile - Main

–          Classifications

Party Tax Profile - Classifications

Party Tax Profile - Classifications

–          Tax Reporting Codes

Party Tax Profile - Tax Reporting Codes

Party Tax Profile - Tax Reporting Codes

–          Configuration Options

Party Tax Profile - Configuration Option

Party Tax Profile - Configuration Option

You can see that the Tax Regime is already associated with the First Party Legal Entity.

Shameem Bauccha

1 July 2009

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