No GL account has been set to the Tax Recovery Rate
Oracle Version: Oracle R12
Unexpected error occurred during Tax Calculation. Exception: The Tax Recovery/Liability account has not been setup for either the tax rate or the account source tax rate. Please enter it using the tax rate or the account source tax rate. Please enter it using the Tax Rate Accounts window. (TAXRATE=XXX)(SOURCE_TAXRATE=) Please correct the problem or contact your system Administrator.
Cause of Issue:
The tax recovery or tax liability rate has not been set up for either the tax recovery rate (if recovery rates are being used – e.g. VAT or GST) or the tax rate (if no recovery is being used – e.g. US Sales and Use Tax). This could be because you have recently added a new Legal Entity or Operating Unit with a new BSV (Balancing Segment Value).
Contact Innovate Tax Support who will examine the issue and direct you to the correct resolution. To resolve yourself (could invalidate your Innovate Tax Warranty), navigate to the correct tax rate, see below;
For a solution where tax recovery is being used:-
Update Tax Accounts.
For a Solution where recovery is not being used.
When available, we provide additional resources to a particular support item, such as User Guides, blog posts, support videos and links to recommended Oracle solutions.
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