Generating China VAT Transactions

Note:

This feature requires the China Localization SuiteApp

The following topics describe generating China VAT Transactions for use with the Golden Tax System:

• Overview

• Generate China VAT Transactions

• Generate China VAT Transaction Example

Overview

NetSuite China Localization enables you to generate VAT Transactions. The VAT transaction data generated is used to import your transactions to the Golden Tax System.

There are guidelines when generating VAT transactions. For more details, see Guidelines for Generating China VAT Transactions.

The exported text file can be used import the transactions from NetSuite into the Golden Tax System. For more information, see Importing VAT Transactions from the China Golden Tax System.

Generating and exporting your VAT transactions will update the transaction status in NetSuite. For more information, see Viewing Transaction Status for Issuing VAT Invoices.

Note:

The Item Name and the Item Model fields reflect their set values in their respective item records. The Item Name column derives the values from both the Item Name/Number and the Display Name/Code field in the item record. See Creating Item Records. For the Item Model column, see Setting Up China Item Models for Inventory Items

Generate China VAT Transactions

The following describes the steps to generate China VAT Invoices:

To Generate China VAT Transactions:

1. Navigate to the Generate China VAT Transactions Page.

   • If you are using the Classic Center, go to Transactions > Sales >Generate China VAT Transactions.

   • If you are using the Accounting Center, go to Customer > Sales > Generate China VAT Transactions .

   • For NetSuite OneWorld Accounts, you can select a subsidiary on the Subsidiary menu. Companies/subsidiaries located in China can be selected.

2. On the VAT Invoice Type field, select either Special VAT Invoice or Common VAT Invoice. For more information, see Setting China VAT Taxpayer Types.

3. In the Date From and To field, enter a date range.

4. In the Customer dropdown, select a customer from the list.

5. In the Transaction Type list, select a transaction type.

6. (Optional) In the Document Number From and To fields, enter a range of document numbers to include in generating VAT Invoices. For more information, see Set Auto-Generated Numbers.

7. In the Enable Sales List field, select Yes or No. For more information about Sales Lists, see Using Sales Lists in China VAT Invoices.

8. Click Refresh.

9. (Optional) Click Internal ID to view the transaction associated with the transaction line.

10. In the Messages field of every invoice, check for problems that are indicated in the messages field for the invoice and make corrections.

    • Blank messages indicate that the invoice has no errors and will be exported.

    • If there are messages for the transaction, it will not be exported.

11. Click Export.

12. (Optional) If your NetSuite account has a Golden Tax System Integration set up, click Issue Invoice. This sends a request to your Golden Tax System Integration to issue an invoice. For more information, see Enabling and Configuring China Golden Tax System Integration.

13. (Optional) Click Merge to begin merging transactions. For more information, see Merging China VAT Transactions.

14. Save the file generated.

Generate China VAT Transaction Example

The following is an example page of generating China VAT Transactions:

Related Topics

• China Help Topics
• China Terminology
• Setting Up China Localization
• Override VAT Invoice Type
• Override China Cash Flow Item
• Processing Red-Letter Invoices
• Generating China Voucher Printing Report
• Importing VAT Transactions from the China Golden Tax System
• Financial Reports for China

General Notices