Adding the Deferred Revenue Account to Tax Types for Brazil

Note:

To access the Brazil Deferred Revenue Recognition SuiteApp documentation in Brazilian Portuguese (Português do Brasil), see Brazil Deferred Revenue Recognition.

When you enable deferred revenue posting for taxes, you need to define the account to which to post these amounts. The Brazil Deferred Revenue Recognition SuiteApp adds a deferred revenue account field to the tax type record for this purpose.

For more information about enabling deferred revenue posting, see Creating Deferred Revenue Settings for Brazil. For more information about the accounts in tax type records, see Adding Tax Accounts to the Tax Types for Brazil.

To add the deferred revenue account to a tax type for Brazil:

1. Go to Setup > Tax > Tax Types.

2. Click Edit next to the tax type record you want.

3. For the Brazil nexus, do the following:

   1. In the Payables Account column, select an account to which to post taxes on sale transactions.

   2. In the Deferred Revenue Account column, select an account to which to post amounts associated with deferred revenue.

4. Click OK.

5. Click Save.

After you define the accounts, when you save transactions with deferred revenue, NetSuite creates the following entries for the tax amount:

• A debit entry to the payables account.

• A credit entry to the deferred revenue account.

  This entry reclassifies the deferred revenue until its recognition.

Related Topics

• Brazil Deferred Revenue Recognition Setup
• Creating Deferred Revenue Settings for Brazil
• Prerequisites for Recognizing Deferred Revenue for Brazil

General Notices