1. Country-Specific Features
  2. Germany Help Topics
  3. Germany-specific SuiteApps
  4. Deferred VAT Recognition
  5. Setting Up Tax Types for Deferred VAT

Setting Up Tax Types for Deferred VAT

Note:

This feature requires the Deferred VAT SuiteApp.

Overview

NetSuite determines where tax is paid or collected in the balance sheet using tax types. For deferred VAT, a separate tax type from your existing tax types must be created. For more information on tax types, see Tax Types Overview.

You can also create a new tax type to use for deferred VAT. To create a new tax type, see Creating a Tax Type.

Configure an Existing Tax Type

The following describes the steps to configure an existing tax type for use with deferred VAT recognition.

To configure an existing tax type for use with deferred VAT:

  1. Go to Setup > Accounting > Tax Types.

  2. Select a tax type. To use the tax type provided by the German Deferred VAT SuiteApp, select Deferred VAT.

  3. Click Edit.

  4. Under the Liability/Sales Tax Account column, select an account.

  5. Under the Asset/Purchase Tax Account column, select an account.

  6. Click Save.

General Notices