-
Formula for excluding non-summary inactive COA
We usually use datasets instead of saved searches for COA export as several fields like ‘Eliminate Intercompany transactions’ and ‘Reconcile bank statements’ options are not available in Saved Searches. While preparing the dataset, we cannot directly put the criteria as exclude inactive as the inactive accounts include…
-
Resolution of error when trying to change General Preference Date format
Scenario: When we try changing the short date format to ‘DD-Mon-YYYY’ and long date format to ‘DD Month YYYY’, the preference reverts to default on saving. We were abe to set the option in Set Preferences but not in General Preferences. We tried using different browsers and all the users are facing this issue. We also…
-
NetSuite Financial topics – CTA, Exchange rate Gain/Loss
Currency Translation Adjustment (CTA) CTA is meant to reflect currency fluctuations during consolidation. For example, if the Indian subsidiary (base currency INR) has ₹1,00,000 in retained earnings and the INR-USD rate changes from 83 to 85, NetSuite calculates the translation difference during consolidation and posts a…
-
MTD For UK Tax
Requirement understanding We need to remit VAT to the UK government. For UK VAT‑registered entities, Making Tax Digital (MTD) requires businesses to keep VAT records digitally, prepare VAT Returns (VAT100), and submit VAT returns digitally via the VAT (MTD) API. NetSuite supports this capability natively through the…
-
New Feature: Passkey Login in NetSuite
NetSuite now supports passkeys as a passwordless alternative to logging in with a password. This applies to all users in all roles on our account. There are two types of passkeys: Physical - a piece of hardware, like a USB security token. Digital - typically via biometrics such as fingerprint or Face ID on a device (this…
-
France E-Invoicing & E-Reporting (2026–2027): What’s Changing and How to Comply in NetSuite
France E-Invoicing & E-Reporting (2026–2027): What’s Changing and How to Comply in NetSuite France is making structured electronic invoicing and electronic reporting mandatory for business transactions over 2026 and 2027. If your company trades in France, or operates a French subsidiary, this will change how you issue,…
-
Tax rounding option in Indian accounts
Round-off is part of legal compliance in India Taxation. As per Section 170 of the CGST Act and 288B of Income Tax Act, the correct method of rounding off is normal rounding. So, all the amounts of tax, interest, penalty, refund, or any other amount payable should be rounded off to the nearest rupee as per normal rounding…
-
TDS posting to Tax type account instead of Section-wise account
Scenario: India TDS GL impact in vendor Bill is posting to Tax type account mapping instead of Section-wise mapping in Setup > India localization > Configuration. 1. Configure the India Custom GL Plug-in Go to Customization > Plug-ins > Plug-in Implementations Click View on India Custom GL Plugin Click Configure Check the…
-
SuiteTax Hub
Introducing SuiteTax Hub: Central Destination for SuiteTaxSuiteTax Hub is a centralized page in NetSuite that provides access to key SuiteTax resources. It offers guidance on how SuiteTax works, how to prepare for the transition, and what to expect during the migration process. Key Features of SuiteTax Hub: – Overview: The…
-
India TDS/TCS updates from 1 April 2026
TDS/TCS updates from 1 April 2026 The Government has introduced the Income-tax Act, 2025, which will replace the Income-tax Act, 1961 from 1 April 2026. One of the most significant changes introduced by the new law is the restructuring of TDS and TCS provisions. Under the earlier Act, Tax Deducted at Source (TDS)…