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New to NetSuite | Advanced Taxes Feature Overview

edited Feb 21, 2025 7:07PM in Advanced Accounting & OneWorld

Running a business means dealing with taxes. Accurate tax calculation is crucial as it ensures compliance with the law and helps maintain a positive relationship with tax authorities, avoiding penalties and legal issues. Proper tax management allows businesses to make informed decisions, ultimately contributing to their long-term success and sustainability.

The Advanced Taxes feature provides users with the ability to manage and calculate taxes for different nexuses within the same NetSuite account. This is done using tax schedules which allow items to be taxed differently in each nexus to meet local business requirements.

To enable the feature, follow the steps below:

Clarisa De Torres | Ask a Guru

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