Tax Point Dates
The tax point for a transaction is the date the transaction takes place for tax purposes.
The tax point date may be different from the transaction date which determines the GL impact.
In SuiteTax, the tax point date and not the transaction date drives taxation.
In NetSuite, the Tax Point Date field is located in the Tax Details tab, as it is solely related to taxation and is initially set as the transaction date. There are two ways to modify the tax point date:
To use fulfillment to modify the tax point date:
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Check the Use fulfillment to modify tax point date box on the Nexus setup page.
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Click Save.
When this preference is set, if a transaction includes a fulfillment with an earlier date than the transaction date, the tax point date is changed to the date of this fulfillment. If a transaction includes several fulfillments, the date of the earliest fulfillment is used as the tax point date for the transaction. This is important for jurisdictions which consider the fulfillment to be a taxable supply, which establishes a tax point date even before the transaction is created.
To manually override the tax point date for a transaction:
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Open a transaction and click its Tax Details tab.
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Check the Override box next to Tax Point Date.
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Enter a valid date.
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Click Save.
To set up tax point dates as period references in generating tax reports, see Setting Up Country Tax Reporting Preferences.
Tax Records Available in SuiteAnalytics Connect
Data about tax point dates is also accessible through SuiteAnalytics Connect. To see the records available in SuiteAnalytics Connect, use the Records Catalog.
The Records Catalog is fully supported for the SuiteScript Analytic API only. For more information, see The Analytics Data Source and SuiteAnalytics Workbook.
Only SuiteTax tax fields will be supported.