Discussions
Read on for the latest updates including:
• Agenda Builder launch
• SuiteWorld On Air registration
• New NetSuite Prompt Studio Contest
• And more!
Check out this thread to learn more!
Introducing Automated Calculation of Consumer's Use Tax for SuiteTax Engine
This notice applies to customers who are using the SuiteTax and SuiteTax Engine features.
What is Changing?
Effective August 8, 2023, NetSuite is introducing new functionality that can automatically calculate your consumer's use tax.
You will be able to automatically calculate the consumer's use tax on purchase transactions. This capability can be beneficial especially when sales tax (or seller's use tax) was not charged for various reasons and the sale is not subject to exemption.
The functionality can be enabled by checking the Calculate Use Tax Automatically box. The box will be displayed on all taxable purchase transactions with a US nexus. Your selected US nexus must have the SuiteTax Engine assigned to the transaction subsidiary per transaction date. Every role with an
Regards,
@Robert Nedelkow-Oracle | NetSuite Support Community Administrator
In case you know someone who is new to NetSuite, we encourage you to direct them to our newly launched "New to NetSuite" page. This page is specifically designed to offer them information and guidance and help them make the most out of their NetSuite journey. Click here for more details.