GST P2P TRANSACTION SETUP
STEP 1 :-Define Purchase Tax Category
Navigator:- Oracle Finance > Tax Configuration > Define Tax Category
Create Tax Category same for other Categories. ( below is example for one category).
STEP 2-Define Third Party Registration
Navigator:- Oracle Finance > Party Registrations > Define Third Party Registration
Select Party Type:- (Supplier) & then click on New.
Fill all Registrations details & Reporting Code – Tax Type Intra State or Inter State Tax and Save.
STEP 3 -Define Item Classification
Navigator:- Oracle Finance > Item Definition > Define Item Classification
Select OU Name & Then click on New Button
Select Your Purchase Item & fill all details > Save
STEP 4 – CREATE PURCHASE ORDER
Navigator:- Oracle Purchasing > Purchase Order > PO
1st Create the Purchases Order > Save & Close it.
(not approve the PO now)
Select Tax Category , Tax rate and Total Amount -> Save
Click on Approve button -> approve PO
STEP 5 : Receipt
STEP 6 :Receiving Transaction
STEP 7 :Pay on Receipt Autoinvoice (ERS)
STEP 8 :AP Invoice
STEP 9:Validate
STEP 10:Create Accounting
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