Defining Tax Schedules for Items
Tax schedules are item categories that are subject to taxation rules. You can define item categories like Services and Groceries if items must be taxed using different rules at a location. This helps you meet your country requirements.
Each item needs an assigned tax schedule that determines the tax rate to be applied to the item based on the purchase location. Set up the tax schedule and the tax codes/groups first, and then apply the tax schedule to the item in the item record.
To set up a tax schedule for an item:
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Log in to NetSuite as an administrator.
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Go to Lists > Accounting > Items.
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Click Edit for the desired item.
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Click the Accounting subtab.
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Under Tax/Tariff, select the Tax Schedule.
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Click Save.
RA-TaxSchedule record changes synchronize to NSPOS daily. Assigning new or modified RA-TaxSchedules or rates to items or locations must occur after the daily synchronization.