1. Accounting
  2. Taxation
  3. SuiteTax
  4. SuiteTax Engine
  5. Setting Up the SuiteTax Engine for VAT Countries
  6. Setting Up Nexus Preferences

Setting Up Nexus Preferences

In the SuiteTax Engine, you can set nexus preferences that determine the SuiteTax Engine's behavior when calculating taxes.

To configure nexus preferences in the SuiteTax Engine:

  1. Go to Setup > Tax > Nexuses.

  2. Click Edit next to the nexus you want to update.

  3. On the Nexus details editing page, click the Nexus Preferences subtab.

  4. Check the Disallow Invalid Entity Tax Registration Number box to prevent saving invalid tax registrations on an entity record.

  5. In the Tax Rounding Method field, select the rounding behavior for your taxes when NetSuite calculates them:

    • Round off: Values in the tax fields are rounded to the nearest integer or decimal place specified in the Tax Rounding Precision field.

    • Round up: Values in the tax fields are rounded up to the nearest integer or decimal place specified in the Tax Rounding Precision field.

    • Round down: Values in the tax fields are rounded down to the nearest integer or decimal place specified in the Tax Rounding Precision field.

  6. In the Tax Rounding Precision field, select the precision you want to use:

    • .01 and below: Values in tax fields are rounded to two decimal points.

    • .1 and below: Values in tax fields are rounded to one decimal point.

    • 1 and below: Values in tax fields are rounded to the nearest single integer.

    • 10 and below: Values in tax fields are rounded to the nearest 10 points.

    • 100 and below: Values in tax fields are rounded to the nearest 100 points.

  7. In the Tax Rounding Level field, select one of the following rounding level types:

    • Tax Detail Line Level: taxes are rounded separately for each tax detail line.

    • Transaction Level: taxes with the same rate, behavior, and properties are rounded together.

  8. Check the Calculate Tax Before Discount is Applied box to have NetSuite calculate taxes before any discounts are applied to the transactions.

  9. Click Save.

The tax rounding preference is per line by default on the Tax Details tab, for example, if there are more taxes applied on a single item line on the Item subtab, every tax/tax code is rounded separately.

General Notices