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Stay up-to-date with the latest news from NetSuite. You’ll be in the know about how to connect with peers and take your business to new heights at our virtual, in-person, on demand events, and much more.
New AI Community Guidelines. Please review and follow them to ensure AI use stays safe, accurate, and compliant.
Keep an eye out for upcoming NetSuite events, including meetups, workshops, and webinars. These sessions are a great way to connect with peers, learn from experts, and stay current on the latest NetSuite updates and best practices. Registration links are provided in each event.
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Join the NetSuite community to innovate, connect, and discover what’s next.
SuiteWorld brings thousands of innovators, builders, and leaders together to learn, connect, and shape what’s next. This October, explore how to build a stronger foundation for growth through inspiring keynotes, major product reveals, hands-on sessions, and unforgettable moments—all in one place for our biggest event of the year. Register now
Join the NetSuite community to innovate, connect, and discover what’s next.
SuiteWorld brings thousands of innovators, builders, and leaders together to learn, connect, and shape what’s next. This October, explore how to build a stronger foundation for growth through inspiring keynotes, major product reveals, hands-on sessions, and unforgettable moments—all in one place for our biggest event of the year. Register now
Change to the GST rate for July 1, 2006
The Federal Budget for 2006 announced a change to the GST rate for July 1, 2006. What do I need to know and do in NetSuite?
There are essentialy 2 ways of proceeding:
Update an existing tax code:
In version 11, tax codes have a GST and PST component (tax item).
- Go to the GST component of the tax code and change the rate from 7% to 6%.
All new transactions will be created using the new rate. Historical transactions will not be affected; they will still use the 7% rate
Create a new tax code:
A more complicated way is to create a brand new GST tax item to be used in a new tax code.
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