The Apply Before Sales Tax checkbox becomes available after the Advanced Taxes feature is enabled. This is done by: 1) Navigate to Setup > Company > Enable Features. 2) Under Accounting tab, mark the Advanced Taxes checkbox. 3) Click on Save.
Tag: Discount item
Custom field on discount or markup item.
Currently, we are unable to add custom fields directly to discount or markup items as we do for other item types. As an alternative, we can create a custom record to hold the necessary custom fields and link this record to the discount or markup items. This connection can be achieved by adding a virtual… Continue reading Custom field on discount or markup item.
Best practices when working with discount
Use Descriptive Item Names: Use clear and descriptive names for your discount items to help identify them quickly and easily. For example, you could use “10% Discount” or “Free Shipping.” Specify the Discount Type: When creating a discount item in NetSuite, specify whether it is a percentage discount or a specific dollar amount discount. For… Continue reading Best practices when working with discount
How discount values are calculated and fetched in saved searches and reports
If the discount amount is in Currency format: To calculate the amount of discount that each item receives, we can follow these steps: Calculate the total value of the order before any discounts are applied. For each item on the order, calculate the weight of the item as a proportion of the total value of… Continue reading How discount values are calculated and fetched in saved searches and reports
Report on the behavior of discount items in sales transactions
Non-Posting/ Account Line Discount Item/ Body Discount Item Discount amount reduces from field… in saved search Non-Posting Line Discount Item – In Record: The discount amount will be reduced from the subtotal of an item.– In saved search: Will show the discount item in a separate line. Also, the disc amount will be reduced from… Continue reading Report on the behavior of discount items in sales transactions
Transaction and Line Item Discounts
Transaction Discounts A discount item can also be used to reduce the total amount of a transaction. To apply a discount item to a transaction’s total, select the discount item you want to apply in the Discount field. NetSuite autofills the item’s rate and the transaction’s discounted total. Body-level discount items are items that are… Continue reading Transaction and Line Item Discounts
Types of Discount Items in Sales Orders and Saved Search
In NetSuite, there are two types of discount items: posting and non-posting. For Transactions:: Posting Discount Item: A posting discount item is a type of discount item that affects the posting of the transaction. When a posting discount item is applied to a transaction, the discount amount is recorded in the general ledger and affects… Continue reading Types of Discount Items in Sales Orders and Saved Search
Discount Amount using Saved Search
Go to List -> Saved Search -> Saved Searches -> New -> Transaction Under the criteria subtab: Add field Item fields… -> Type -> Discount Item Under Results subtab: Add Amount column The summary Type is Sum If we want to use the formula for getting Discount Amount in the Results: CASE WHEN {item.type}=’Discount’ Then… Continue reading Discount Amount using Saved Search
Partner Discount in Netsuite
Usually, the Discount items will show up on List > Accounting > Items (Type: Discount). But Partner Discount won’t show up there. Because they are built-in records that have a negative internal ID which is hidden from the item list and Saved Searches. Partner Discount is a Discount for Sale Item with Internal Id as… Continue reading Partner Discount in Netsuite
Investigate why the Discount item in NetSuite post to the Revenue account instead of the Promotional rebates account
Issue We have a discount item named “Amazon Discount. We were used this item in many transactions and when we check the GL impact of the transaction, we can see that the Discount Item does not affect the posting and is wrongly post to the Revenue account of the main item in the transaction. Solution… Continue reading Investigate why the Discount item in NetSuite post to the Revenue account instead of the Promotional rebates account