Setting Up Fine and Interest Items for Brazil
To access the Brazil Localization SuiteApp documentation in Brazilian Portuguese (Português do Brasil), see Brazil Localization.
The Brazil Localization SuiteApp provides four items to account for fine and interest amounts on purchase and sales transactions.
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On fine and interest on sales transactions, NetSuite uses the FineCharge and InterestCharge items.
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On fine and interest on purchases transactions, NetSuite uses the FineChargePurchase and InterestChargePurchase items.
You must set up these four items to ensure they work properly in your account. You should define the Brazilian subsidiaries to which they apply and the account to which to post their amounts.
For more information about fine and interests, see Applying Fine and Interest Charges on Sales for Brazil.
To set up fine and interest items:
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Go to Lists > Accounting > Items.
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Click Edit next to one of the fine and interest items:
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FineCharge
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InterestCharge
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FineChargePurchase
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InterestChargePurchase
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If you have subsidiaries in multiple countries, in the Subsidiary field, clear the selection of the subsidiaries located outside of Brazil.
By default, NetSuite automatically selects all the subsidiaries from your account. However, the fine and interest items should not be associated with subsidiaries outside of Brazil. Keep the selection to Brazilian subsidiaries only.
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Click the Accounting subtab.
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If you are editing a fine or interest item for sale, in the Income Account field, select the account to which to post the fine or interest amounts.
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If you are editing a fine or interest item for purchase, in the Expense Account field, select the account to which to post the fine or interest amounts.
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Click Save.