Question
I have a scenario on Indian tax and multi-book compatibility
The scenario is as follows
US Parent company
Indian Subsidiary(INR, India suite tax)
UK Subsidiary
If we use the Indian subsidiary with operation currency(primary) INR and suite tax India for taxation then,
Is it possible to use multi-book to get the USD reports in the secondary book?
if multi-book is not feasible then is there any workaround for the scenario?
In NetSuite documentation, NetSuite is saying that all localisations will not support Multi-book with suite tax. But they are not mentioning clearly a list of these countries or currencies.
Does having the multibook implemented will reduce our subsidiary limit? or will I be considered as equivalent to having a new subsidiary?
Answer
First, regarding the Multi-book Accounting, it is possible that this might affect your subsidiary country limit since there is a different combination of country and currency. If you have the new oneworld licensing, you will need an additional license to be able to add the book India + USD. Subsidiary Country Limit = Pertains to maximum number of countries that can be used in all of the subsidiaries. Under this licensing, it does not only count the number of countries used, but also the number of currencies used. In the old Subsidiary Count License is being considered.
Please contact your Account Manager to determine the if you are using the Old or New Licensing Scheme.
Also, you need to be an Multi-book enabled partner or from professional services.
For the SuiteTax in Multi-book, the Multi – book reporting is currently not yet available, as stated in the SuiteTax Questionnaire. Also, as per Known Limitations of SuiteTax (SA ID: 98937) “Multi-Book support for Country Tax Reports (Report > Tax > Country Tax Reports) is still in progress. Currency translation of Tax Amount fields on secondary books is currently unavailable. Manual calculation (using formulas) is required when using saved searches/custom reports.”