Setting up Reclassification by Region Rules

NetSuite uses the account reclassification rules you define to reclassify your accounts. Completing this setup enables NetSuite to reclassify your accounts.

The following describes the steps to configure and set up your reclassification by region rules.

To set up reclassification by region rules:

1. Go to Setup > Custom > Setup Reclass. By Region Rules.

2. Select the subtab for the account reclassification.

   • For revenue, click the Revenue Accounts subtab.

   • For expenses, click the Expense Accounts subtab.

3. Create a new classification rule.

   • For revenue, click New Revenue Reclassification Rule.

   • For expenses, click New Expense Reclassification Rule.

4. Select a subsidiary in the Subsidiary drop down. Only subsidiaries that have the revenue reclassification feature enabled will appear in this list. For more information, see Enabling Revenue/Expense Reclassification by Region on the Subsidiary Record.

5. Select an item in the Item drop down.

6. Select a category in the Rev/Exp Category for Reclass field.

7. Select an account in the Domestic Account field.

8. Select an account in the EU Account field.

9. Select an account in the ROW Account field.

10. Select a VAT category from the VAT Category drop down field.

11. Select a date in the Effective From field.

12. (Optional) Select a date in the Valid Until field.

13. Click Save.

Note:

Once a reclassification rule is saved, you cannot change it. Only the Invalid checkbox and the Valid Until fields can be changed afterwards.

The Setup Reclass. By Region Rules page also lists the existing rules you have created. Note that each rule is unique to each subsidiary, and you can create different rules for the same item or Rev/Exp Category for Reclass. for different subsidiaries. For more information, see Guidelines for Setting Up Reclassification By Region Rules.

General Notices