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Try Intelligent Payment Automation – Fee Free For Your First Month
Intelligent Payment Automation, powered by BILL (aka Bill.com), lets you automate payments, manage vendor details, and bank account information within NetSuite.
The SuiteApp is available to organizations based in the U.S. with a valid U.S. address, or to global customers (except Canada, China, and Japan) with U.S. business subsidiaries. It only supports payments to vendors operating in the United States.
For more information, visit this thread.
Intelligent Payment Automation, powered by BILL (aka Bill.com), lets you automate payments, manage vendor details, and bank account information within NetSuite.
The SuiteApp is available to organizations based in the U.S. with a valid U.S. address, or to global customers (except Canada, China, and Japan) with U.S. business subsidiaries. It only supports payments to vendors operating in the United States.
For more information, visit this thread.
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How to defer Consumption tax on amortization schedules?
In looking to roll out the amortization schedules for automated prepayments in Japan we have identified an issue. In the UK automated amortization has been used successfully since October 2022 and for VAT in invoices in the posting is made on the Bill in its entirety when the Bill is posted, as required under IFRS and UK tax.
In Japan the consumption tax (VAT equivalent) is treated differently in accordance to Japanese tax law and when a payment expense is deferred (i.e. prepaid) then the consumption tax recovery is also deferred. I cannot see how this is possible in the current set-up.
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