Oracle R12 How to change a paid invoice when you need to make a tax corrections

Changing the tax rate or recovery rate on a paid invoice

First you need to make sure you know the policy of adjusting a paid invoice as many companies do not want to allow this option and by default it should certainly be set to NO. However, we have found that when a user applied the wrong tax code to a transaction and a correction is needed, it is far easier, cleaner and more accurate to change that invoice even if it has been paid.

Changing the original transaction instead of applying a credit note and reentering the invoice has many more benefits. Firstly, the time taken is much less than having to create a credit memo and a new invoice, both of which then have to be paid. Continue Reading