In NetSuite, we can set up tax agencies as vendors to start, record, and track tax payments and we could choose vendors who are all tax agencies at the time of tax code creation.
- To set up the tax agencies, we can make the vendor category a tax agency-related category by checking the tax agency checkbox on the vendor category record (Please see the screenshot below).
- When the vendor record is generated with the tax agency category, the system automatically disables the vendor category field if the tax agency field is checked on the vendor category record.
To enable the category field on vendor records,
- Go to Accounting List, Setup → Accounting → Accounting Lists → Select Vendor Category in Type Filter → Edit Tax Agency record
- Then uncheck the Tax Agency field on the vendor category record, then update the category field on vendor records.
After changing the vendor records, mark the tax agency field on the vendor category record again. Only then will the system list the vendor’s name in the tax agencies field on tax code records.