Bill of Entry Process after GST Implementation:
Item Needs to be assigned as GST & GST customs and recoverable tax to be given as Y
Item Definition -> Define Item Classification
Choose
Item Template
Template Name
Select GST customs and recoverable as Y
And give the reporting code HSN code
Supplier needs to be registered as third party with TIN number
PO Creation :
Responsibility : India Local Purchasing
Navigation : Oracle Purchasing -> Purchase Order
Enter Supplier name,site Ship to & bill to locations
Enter the item details item code,quantity,price
Click on Tools -> India Tax Details
Enter the tax category and intended use.
Save and Click on apply
Creation of Bill Of Entry
Responsibility : Oracle Financials for India
Navigation : Transactions -> Enter Bill of Entry
BOE number will get generated, note it
Click on lines
Enter the PO number and save it and click on add lines PO item details will appear
The Information related to the PO will get automatically populated.
Close the screen.
Click on Taxes
Save it.
The Following concurrent will automatically create Invoice and validate it.
Importing BOE Invoices - Localization (Payables Open Interface Import)
Calling Payables Approval Localization (India - Auto Invoice Approval)
(BOE invoice number will be created by this concurrent as first parameter note it) Ex : BOE/Invoice/82/351
Payables Approval Localization (Invoice Validation)
Check the invoice and match the amount and make payment.
Accounting Entry for Invoice
Go to BOE screen
Enter the Inventory Organization and location and Click Supplier and query for the BOE number
Click on Tools -> BOE receipt Creation
Enter PO number and find it
The PO line will get populated and select the PO line, click on tools -> India tax details
Make sure the tax Details are populated correctly.
Select the Confirm Tax Checkbox and Save.
Receipt GL entry
Receive:
Deliver:
I’d love to be a part of group where I can get advice from other experienced people that share the same interest. Thank you so much for sharing this valuable post.Keep it up. Inventory Audit
ReplyDeletetop ca firms in gurgaon
Stock Audit
What If Bill OF Entry Filed under courier mode.
ReplyDeleteThank you for sharing your tips! This is very helpful and informative. A lot of gst billing software in kerala has the important GST features so people can do their billing and accounting very easily.
ReplyDeleteOracle Fusion Financials Online Training
ReplyDeleteNice blog.
Dear Team, If i cancell BOE than whats its accounting effect & where i get that report...?
ReplyDeleteNice blog,also please show the hole journal entry process
ReplyDeleteFreight Squirrel offers a freight audit software solution that completes the entire freight auditing process in seconds! It's the perfect freight auditing solution for e-commerce companies. They simply log in to the dashboard, upload their courier invoice and freight system CVS, and input the consignment number, weight, and volume of their shipment. The software does the rest. Freight Bill Audit Software
ReplyDeleteReally it was best article , Keep posting informative contents
ReplyDeleteVendor Reconciliation
Inventory Audit
Customer Reconciliation
Modern Trade Reconciliation
Warehouse Audit