Scenario: A user with an Administrator role wants to set accounts created in the Chart of Accounts page (Lists > Accounting > Accounts) as their Tax Control Accounts for United States and Canada but is unable to do so. These accounts are not available in the Liability/Sales Tax Account and Asset/Purchase Tax Account drop-down selection… Continue reading Legacy Tax: Set Chart of Accounts as Tax Control Accounts for United States and Canada
Category: NS Financials
NS Financials
Item Fulfillment with Time Difference Between Picked, Packed, and Shipped Status
User wants to create a Transaction Saved Search that shows comparison of time between Picked, Packed and Shipped Status on Item Fulfillment. Solution Navigate to List > Search > Saved Searches > New Select Transaction Criteria tab > Standard subtab > Filters: Note: For every required filter stated below substeps, use the dropdown menu select it. Select Type Description: Select Item Fulfillment Select Main Line Description: Select False Select Shipping Line Description: Select False Select Tax Line… Continue reading Item Fulfillment with Time Difference Between Picked, Packed, and Shipped Status
Tax is not calculated in bill import
In the CSV import of vendor bill, tax is not calculated in the created bill in the NetSuite account that have India Localization SuiteTax Engine. To calculate tax properly, ensure that the below points have considered in NetSuite: Vendor record has a value on the Default Tax Reg. field under Financial tab. The following fields are added and mapped in… Continue reading Tax is not calculated in bill import
Error while saving Sales order: Tax Calculation Engine: Tax Calculation Plugin Error: Tax Calculation Plugin is not Configured
While saving a Sales Order, the error occurs “Tax Calculation Plugin error: Tax Calculation Plugin is not configured”. This is because the Tax Engine in the Subsidiary record of the Customer is not setup. To setup tax engine in subsidiary record: Navigate to Setup > Company > Subsidiaries. Click Edit beside the Subsidiary of the Customer. On the Tax Registrations tab, Tax Engine Column, Enter the necessary Tax… Continue reading Error while saving Sales order: Tax Calculation Engine: Tax Calculation Plugin Error: Tax Calculation Plugin is not Configured
Unexpected error while deteing tax transactions
The following error occured while deleting tax transactions in India localization suitetax: “An unexpected error has occurred. Please click here to notify support and provide your contact information”. To resolve this, check whether the tax type is inactive. To check this: Navigate to Setup > Tax > Tax Types Look for the Tax Type used in the transaction Open in Edit view … Continue reading Unexpected error while deteing tax transactions
India Localization SuiteTax Engine installation error: INVALID_KEY_OR_REF
The error “INVALID_KEY_OR_REF” occured when trying to install India localization suitetax engine. The possible reason for the error is that the nexus “India” is not created in that NetSuite account. The account should have the country as “India”. To create nexus: Go to Setup> Company> Countries. Create the country “India”. Go to setup> Accounting> Nexus. Create… Continue reading India Localization SuiteTax Engine installation error: INVALID_KEY_OR_REF
Budget Reports
NetSuite provides the user with native Budget Reports such as Budget vs. Actual and the Budget Income Statement. These reports enable the user to analyze budgeted and actual project or customer financials to determine how closely their cost and billings compare to those they originally budgeted. To access these reports, navigate to Reports > Banking/Budgeting… Continue reading Budget Reports
Budget CSV Import
Step 1: Download the Budget Template File To access the Budget Import Template in NetSuite, navigate to Transactions > Financial > Set Up Budgets > Import. On the Import Assistant Screen click the link ‘Budget Template File’ and download excel to computer. In the Template enter the following information: Year Category Account Subsidiary Amount for… Continue reading Budget CSV Import
Budget Creation in NetSuite: Creation and Copy Budgets
To manually create Budgets in NetSuite, navigate to; Transactions > Financial > Set Up Budgets To view existing Budgets in NetSuite, navigate to Transactions > Financial > Set Up Budgets > List. Copy Budgets Budgets can also be copied from a previous year and applied to a new period. To do so the user will… Continue reading Budget Creation in NetSuite: Creation and Copy Budgets
Budgets in NetSuite
Budgets in NetSuite will be specific to a fiscal year and permits the entry of an amount per account for each accounting period in the year. Budgets can provide information for reporting such as NetSuite’s Budget vs. Actual report. We can save estimates of income and expense as budgets for financial planning purposes. The user… Continue reading Budgets in NetSuite