Terminology
- 11i Taxes vs R12 Taxes
ü
What is Configuration Owner Option (COO)? – This is an
Setup Option in Tax Manager Responsibility used to control how taxes has to
apply on each Event Class for each Application
ü
Application =
Receivables, Payables etc
ü
An event class would
be Invoices, Credit Memo, Debit Memo’s etc..
ü
After an upgrade
the system will set "Configuration Owner Tax Options" for each
product and event class
ü
This will be set as
"Standard Tax Classification Code" or STCC following an upgrade.
This, combined with the Direct Rate Rule that are created during the 11i
upgrade result in a unique branch of Tax Code to be called when calculating
taxes.
