Hi all,

So the background to this question is we have tax periods and accounting periods that match - they are both calender months. We close both of those periods in sync with each other in the first week of the following period. I did not implement NetSuite in my current post so was not involved in the set up of these processes. This may well be a custom solution and if so you will have to inform me as its not an area I have looked at prior to my current post.

Every month we have a number of vendor bills that have tax periods and posting periods that do not match. This causes an obvious problem for our VAT reporting as the total purchases for the period does not match the total tax for the period. From what I can tell the Tax period is decided upon when the bill is entered in to the system but the posting period is not decided upon until the bill is approved (which could be the following month).