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Best practices when setting up Canada Tax Codes, Tax Group, and Nexuses after enabling the Advanced
Scenario:
Best practices when setting up Canada Tax Codes, Tax Group, and Nexuses after enabling the Advanced Taxes Feature in NetSuite Single Instance.
Solution:
A: Create a Nexus first for Canada
1. Navigate to Setup > Accounting > Nexuses > New.
2. Country = Canada
3. State/Province/Country = specify every Province where you have been transacting business with.
B: Create a new Tax Code via Setup> Accounting> Tax Codes> New
1. Select the country of Canada.
2. Set the Tax Name to AVATAX-GST.
3. Set the Rate to 0.0.
4. Tax Type is GST/HST.
5. Tax Agency is Avalara (should already exist).
6. Purchase and Sales Tax Accounts are defined by user.