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Intelligent Payment Automation, powered by BILL (formerly 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.
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Tax calculation when exporting expenses with SuiteTax enabled
Hi,
We're integrating our software with NetSuite. Currently, we're getting into a lot of issues regarding SuiteTax.
We're exporting expenses to NetSuite via SuiteTalk SOAP web services. The problem is with the exchange rates and tax rates of expenses & tax details.
For Tax Details we have to send:
- Tax Type
- Tax Code
- Tax Basis
- Tax Rate
- Tax Amount
Shouldn't tax amount be calculated automatically by NetSuite? We're a bit worried that we have to provide calculated value.
There's also another problem. For Expenses we need to send:
- Foreign Amount
- Exchange rate
We're sending the amount in expense currency (foreign currency). Unfortunately, the expense Tax Amount is taken from the Tax Details Tax Amount. Therefore, it seems as we'd have to send the Tax Details in Report Currency instead of the original expense currency. In other words, we'd have to calculate taxes on our side taking both tax rate & exchange rate into account. It seems a bit risky.