Ireland Help Topics
Overview
The following help topics contain information about NetSuite features that are specific to companies doing business in Ireland. The NetSuite International Edition can be configured with capabilities and reports specific to an Irish business setting and requirements.
To know more about localized editions of NetSuite, as well as setting up NetSuite accounts 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
Ireland Account Setup: Provides an overview of NetSuite features to be enabled by the user in Ireland and SuiteApps available for installation.
Setting Up Ireland-specific Preferences: Set up your NetSuite company and user preferences for Ireland, including date, currency, language, time zone, and support for Irish number, phone, and address format.
Functional Areas
Ireland 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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Ireland doesn’t have a statutory chart of accounts. You are able to upload your own chart of accounts. |
Install Ireland Localization SuiteApp; see Prerequisites for Installing the Ireland Localization SuiteApp and Installing the Ireland Localization SuiteApp |
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Provides a solution if your main Chart of Accounts is different than your local Irish Chart of Accounts. Through the Accounting Contexts subtab on the General Preferences page, you can create an Irish Accounting Context, which allows mapping between the main accounts and the Irish 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 a prerequisite for 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. This feature is optional for Ireland. |
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 page; see GL Impact Locking. |
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This is an optional feature that allows the creation of income closing journals, balance sheet opening and closing journals as a task in the Period End Checklist. Without this feature, the Balance Sheet report will use a dynamic close. |
Enable the Period End Journal Entries feature and perform additional setup tasks; see Setup for Period End Journal Entries. |
Taxation Features for Accounts Without SuiteTax
The following table describes taxation features in Ireland:
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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 to generate the VAT reports. |
Enable the accounting features that you want to use. For more details, see Enabling and Setting Up Taxation Features. Install International Tax Reports (see Installing and Setting Up International Tax Reports) |
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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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VAT preferences for Ireland |
For more information, see |
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Provides information on how to generate the Irish VAT report and how NetSuite uses the tax codes to get the values for the VAT Returns. |
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Using NetSuite, Irish VAT-registered companies can export an XML of the VAT 3 report online. |
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Customizable saved reports that can be used in Ireland to reconcile your VAT return. |
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Provides information on how to generate the EU Sales List (ESL) report. This report prints EU sales for both services and goods. The EU sales list can be exported in the following formats:
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Provides information about the Intrastat report for Arrivals and Dispatches. The Intrastat report can be exported in the following formats:
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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 to apply nondeductible or partially deductible tax on vendor bills, checks, and vendor bill credits in NetSuite. For more information, see Setting Up Nondeductible Input Tax. |
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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. Ireland doesn't require a specific tax audit file format. One of the following can be used, if needed:
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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)
The following table describes taxation features in Ireland:
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Feature |
Description |
Prerequisites |
|---|---|---|
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Your tax records are created 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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Reverse Charge Posting |
This feature is a part of the core SuiteTax functionality and no longer requires any additional SuiteApp. |
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When using the SuiteTax Engine, default tax codes are automatically provisioned for nexuses. After the SuiteTax Engine is installed, it is suggested that you review and edit the default tax codes for each nexus. |
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The SuiteTax Engine enables you to configure the extra information required for invoices where the customers are liable for tax (sale subject to reverse charge mechanism). The compliance text is shown on invoices that use tax codes with tax types where Reverse Charge for Sales is enabled. The compliance text default configured language and text is in English. Configuration for other languages is also available. To setup compliance text, you will need to configure this feature in the nexus preferences and in the invoice templates. |
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VAT Returns |
The following reports are available for Ireland:
For more information, see Ireland Localization. |
Install these SuiteApps in the following order:
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EU Reports |
The following EU reports are available for Ireland:
For more information, see Ireland Localization. |
Payments
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Feature |
Description |
Prerequisites |
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Provides information about the Electronic Bank Payments SuiteApp and its supported formats specific to Ireland, including steps on setting up bank records for your company, partners, vendors, customers, and employees in Ireland. |
Install these SuiteApps in the following order:
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Provides information on how to transfer electronic bank payments data such as entity bank details (vendors, employees, customers) to NetSuite. |
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. |
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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 more information, see the following topics: Importing Data Using a Financial Institution Record — supported file formats:
For more information about these formats, see Bank Statement Parsers SuiteApp |
Install the Bank Statements 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, 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 Statements 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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Bank Feeds SuiteApp automates the transfer of your bank data from your financial institution accounts into NetSuite. The SuiteApp uses the Financial Institution Connectivity Plug-In and an authorized account information service provider to securely access online financial institution data. |
For more information, see Installing the Bank Feeds SuiteApp and Supported Financial Institution Account Types. |
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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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