Setting Up Tax Items for Brazil

Note:

To access the Brazil Reports documentation in Brazilian Portuguese (Português do Brasil), see Brazil Reports.

The Brazil Localization SuiteApp provides the following items to account for taxes on tax bill transactions:

COFINS
FCP
FCP ST
ICMS Próprio
ICMS ST
ICMS DIFAL
IPI
ISS
PIS

You must set up these items to ensure they work properly in your account. You should define the Brazilian subsidiaries to which they apply and the expense account to which to post their amounts.

If you have the Multiple Vendors feature enabled in your account, you can define a default vendor for each tax item. For more information, see Enabling Item Features.

To set up tax items for Brazil:

Go to Lists > Accounting > Items.
Next to the tax item you want to set up, click Edit.

NetSuite opens the item record.
If you've got subsidiaries in more than one country, in the Subsidiary field, clear out any subsidiaries outside Brazil.

Brazilian tax items shouldn't be associated with subsidiaries outside of Brazil. Keep the selection to Brazilian subsidiaries only.
(Optional) Click the Purchasing subtab.
1. In the Vendor column, under the Vendors subtab, select the tax authority that you want to define as the default for this tax.
  
  The system populates this tax authority in the Vendor field of tax bills you generate with this item.
2. Click Add.
Click the Accounting subtab.
In the Expense Account field, select the account to which to post the tax amounts.

Tip:
By default, this field only lists expense accounts. If you want to post your tax amounts to a different type of account, check the Expand Account Lists box in your accounting preferences. For more information, see General Accounting Preferences.
Click Save.

Repeat these steps to set up the items for all taxes you pay.

To set up tax items for Brazil:

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