Run Statutory Deduction Report

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The Statutory Deduction Report in Oracle Fusion is used to track statutory deductions such as taxes, social security contributions, pension deductions, and other legally mandated withholdings. This report is crucial for ensuring compliance with local and national regulations, and it provides a clear breakdown of statutory deductions across employees for a given period.

Steps to Run the Statutory Deduction Report in Oracle Fusion:

  1. Log in to Oracle Fusion:

    • Use your credentials to access Oracle Fusion.
    • Ensure that you have the correct role, such as Payroll Manager or Payroll Administrator, to run statutory deduction reports.

  2. Access the Payroll Dashboard:

    • From the Home page, click on the Navigator icon (located in the top-left corner).
    • Go to the Payroll section and select Payroll Checklist.
    • Alternatively, navigate to the My Client Groups tab and select Payroll.

  3. Navigate to Reports and Analytics:

    • In the Payroll Checklist or Payroll section, look for Reports and Analytics.
    • You can also use the search bar to search for Statutory Deduction Report.

  4. Select the Statutory Deduction Report:

    • Locate the Statutory Deduction Report from the list of available reports.
    • Click on the report to begin setting the report parameters.

  5. Set Parameters for the Report:
    When generating the Statutory Deduction Report, you’ll need to provide several parameters:

    • Payroll Name: Select the payroll for which you want to generate the report (e.g., monthly payroll, weekly payroll).
    • Payroll Period: Choose the payroll period (such as monthly, bi-weekly, etc.) for which statutory deductions should be reported.
    • Statutory Element: Select the specific statutory deduction you want to include in the report (e.g., income tax, social security, or pension contributions).
    • Person/Assignment: Optionally, filter by specific employees or assignment numbers if needed.
    • Date Range: Define the date range for the deductions (e.g., from the start of the fiscal year to the end of a specific period).
    • Business Unit or Cost Center: Choose the relevant business unit or cost center if applicable.

  6. Submit the Report:

    • After filling in the required parameters, click Submit to generate the report.
    • Depending on the amount of data and the period selected, the report might take a few moments to generate.

  7. View or Download the Report:

    • Once the report is generated, it will be displayed on-screen.
    • You can also download the report in various formats like PDF, Excel, or CSV by clicking on the Export button and selecting your desired format.

  8. Analyze the Report:

    • The Statutory Deduction Report provides a detailed breakdown of statutory deductions, such as income tax, social security contributions, pensions, and any other legal withholdings.
    • Use the data for reconciliation with financial records and to ensure compliance with statutory requirements.

  9. Schedule the Report (Optional):

    • If you need to generate this report regularly (e.g., monthly or quarterly), you can schedule it by selecting the Schedule option before submitting.
    • Define the frequency and specific time for the report to be automatically generated.

Key Parameters to Focus On:

  • Payroll Name: Ensure you select the correct payroll to avoid retrieving irrelevant data.
  • Statutory Element: You can choose specific statutory deductions, such as tax or social security, to focus on particular areas.
  • Date Range: Make sure to select the appropriate date range to capture all relevant deductions for the specified period.

Best Practices:

  • Reconcile with Financial Data: Use the report to reconcile statutory deductions with your financial records, ensuring accuracy in your payroll and financial systems.
  • Ensure Compliance: Verify that all statutory deductions are calculated correctly to comply with local and national regulations.
  • Export for Analysis: If you need to perform detailed analysis or share the report with other departments, download the report in Excel format for easier handling.

The Statutory Deduction Report is a critical tool for payroll compliance and auditing, helping to ensure that all necessary deductions are made accurately and that your organization adheres to legal requirements.

Run Statutory Deduction Report

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