Finland Help Topics
Overview
The following help topics provide information about NetSuite features that are specific to companies doing business in Finland. The NetSuite International Edition can be configured with capabilities and reports specific to a Finnish business setting and requirements.
To know more about localized editions of NetSuite, as well as setting up NetSuite account and subsidiaries, refer to the following help topics:
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Introduction to NetSuite OneWorld — for companies using NetSuite across multiple subsidiaries and countries
Please note that general NetSuite features are covered in other chapters and topics.
General Setup
Finland Account Setup: Provides an overview of NetSuite features to be enabled by the user in Finland and SuiteApps available for installation.
Setting Up Finland-specific Preferences: Set up your NetSuite company and user preferences for Finland, including date, currency, language, time zone, and support for Finnish number, phone, and address format.
Functional Areas
Finnish users can activate and get access to different features from the following functional areas:
To learn more about SuiteApps installation, see Installing a Bundle.
To learn more about enabling NetSuite features, see Enabling Features.
If you do not have sufficient permissions to install SuiteApps or enable features, please contact your account administrator.
Accounting
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Feature |
Description |
Prerequisites |
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Provides a template of the Finland Chart of Accounts, which you can modify and add legal names. |
Install Finland Localization SuiteApp (see Prerequisites and Installing the Finland Localization SuiteApp). |
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Provides a solution if your main Chart of Accounts does not follow the Finland account numbering requirements. Through the Accounting Contexts subtab on the General Preferences page, you can create a Finland Accounting Context, which allows mapping between the main accounts and the Finnish numbers. |
Available in all OneWorld accounts. |
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Applies gapless numbering sequences to all general ledger posting transactions. This is an optional feature and is needed if you would like to use the GL Impact Locking feature. |
Enable the GL Audit Numbering feature; see Enabling GL Audit Numbering and Setting Preferences. |
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Requires the GL Audit Numbering feature. When you use GL Impact Locking for a company or a subsidiary, any change to a general ledger impacted field or entity field on a GL numbered impacting transaction after running a GL audit numbering sequence automatically generates copy and reversal transactions. These transactions display on the GL Impact subtab on the original general ledger impacted transaction. |
Enable the GL Audit Numbering feature; see Enabling GL Audit Numbering and Setting Preferences. Check the GL Impact Locking box on the Company Information or Subsidiary pages; see GL Impact Locking. |
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An optional feature that enables you to create the income closing journals, balance sheet opening and closing journals as a task in the Period End Checklist. |
Enable the Period End Journal Entries Feature and perform additional setup tasks; see Setup for Period End Journal Entries. |
Taxation (Accounts without SuiteTax)
The following table describes taxation features in Finland:
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Feature |
Description |
Prerequisites |
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Provides a list of tax codes that are needed to calculate VAT on transaction records, and generate Finland VAT reports. |
Enable the accounting features that you want to use. For more details, see Enabling and Setting Up Taxation Features. Depending on your selection of features, you may need to install the following SuiteApps:
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Enables you to generate the Finland VAT report in Finnish or English using the International Tax Reports SuiteApp. Shows how NetSuite uses the tax codes to get the values for the Finland VAT Return. |
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A feature of the International Tax Reports SuiteApp that automatically creates nexus and VAT/GST tax codes when you add a new subsidiary country. |
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These are customizable saved reports that can be used in Finland. |
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Enables you to generate the EU Sales List (ESL) report using the International Tax Reports SuiteApp. ESL is a report that prints EU sales for both services and goods. |
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Provides information about the Intrastat report for Arrivals and Dispatches. |
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Reverse Charge VAT |
Provides information about the reverse charges on goods and services within the European Union (EU). For more information about configuration, see Setting Up Tax Codes to Post Notional Tax Amounts and Applying the Notional Tax Posting Feature to Transactions and Subsidiaries. |
Install International Tax Reports (see Installing and Setting Up International Tax Reports) and Supplementary Tax Calculation. |
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Enables you to handle the expenditures that are disallowed for VAT purposes. In NetSuite, you can apply nondeductible tax on vendor bills, expense reports, checks, and vendor bill credits. For more information, see Setting Up Nondeductible Input Tax. |
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A feature of the International Tax Reports SuiteApp that automatically provisions OSS tax codes when you assign an OSS nexus to a subsidiary in NetSuite OneWorld. |
Install International Tax Reports (see Installing and Setting Up International Tax Reports). |
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Automatically provisions OSS tax codes for non-OneWorld NetSuite accounts. |
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The file enables tax payers to provide their electronic records to tax auditors in support of their tax returns, and for auditors to review accounting records. For Finland the following formats can be used:
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Install International Tax Reports (see Installing and Setting Up International Tax Reports) and Tax Audit Files (see Installing the Tax Audit Files SuiteApp). |
Taxation (Accounts With SuiteTax)
Finland Localization SuiteApp is not compatible with SuiteTax.
The following table describes taxation features in Finland:
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Feature |
Description |
Prerequisites |
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Creates tax records when you select SuiteTax as your tax engine. SuiteTax enables you to use different tax engines per nexus. To begin provisioning your tax records, assign a tax registration to the subsidiary or company in SuiteTax. |
Your NetSuite account administrator must submit a SuiteTax enablement request and enable the SuiteTax feature in your NetSuite account. See Enabling the SuiteTax Feature. Install the following SuiteApps:
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Guides you through the process of updating tax codes for each nexus. This procedure is a best practice after the SuiteTax Engine automatically provisions tax codes. |
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Provides steps in setting up the compliance text in nexus preferences and invoice templates. This procedure is necessary to configure the language of the text, and enter the text itself, which is a required information for invoices where customers are liable for tax (sale is subject to reverse charge mechanism). |
Payments
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Feature |
Description |
Prerequisites |
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Provides information on how to transfer electronic bank payments data such as entity bank details (vendors, employees, customers) to NetSuite. |
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Banking and Electronic Payments |
Important:
The payment templates contained in the Localization SuiteApp currently require the License Client SuiteApp and the Advanced Electronic Payment functionality. |
Bank Reconciliation
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Feature |
Description |
Prerequisites |
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Manual Bank Reconciliation |
Lets you manually mark bank transactions as reconciled. For more information, see Reconciling Bank Statements |
You must have the proper permissions assigned to your role. For details, see Permissions for Banking Features. If you want to use the pages for an account, check the Use Match Bank Data and Reconcile Account Statement Pages box on the Edit Account page. For details, see Editing an Account. |
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When bank data has been imported to NetSuite, you can match and reconcile transactions without the need for third-party tools. |
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To reconcile your account statement, from beginning to end:
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For details, see the following topics: Importing Data Using a Financial Institution Record – the following formats are supported:
For more information about these formats, see Bank Statement Parsers SuiteApp. |
Install the Bank Statement Parsers SuiteApp. For more information, see Installing the Bank Statement Parsers SuiteApp. This SuiteApp provides parser plug-ins for the supported formats.
Note:
If you develop new formats in addition to the supported ones, you must create a Financial Institution Parser Plug-in implementation. For more information, see Financial Institution Parser Plug-in Interface Overview |
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Importing Data Using Default Parsers –the following file formats are supported:
For more information on file formats, see Supported File Formats for Default Parsers. |
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Auto Bank Statement Import SuiteApp which uses the Financial Connectivity Plug-in to automatically import bank data via sFTP from your financial institution. The Auto Bank Statement Import SuiteApp is usually used together with the Bank Statement Parsers SuiteApp. |
Install the Auto Bank Statement Import SuiteApp. For more information, see Installing Auto Bank Statement Import SuiteApp. Install the Bank Statement Parsers SuiteApp. For more information, see Installing the Bank Statement Parsers SuiteApp.
Note:
If you develop new formats in addition to the supported ones, you must create a Financial Institution Parser Plug-in implementation. For more information, see Financial Institution Parser Plug-in Interface Overview. |
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See Matching Bank Data. |
See Permissions for Banking Features for the proper permissions to use the Match Bank Data and Reconcile Account Statement pages. If you want to use these pages for an account, check the Use Match Bank Data and Reconcile Account Statement Pages box on the Edit Account page. For more information, see Editing an Account. |
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