Working with Taxes
Your tax setup for NetSuite Point of Sale (NSPOS) assists your cashiers with collecting sales taxes, value added taxes (VATs) and other taxes applicable to retail transactions in your country, state, county or city. After collecting the required taxes, you can use the accounting applications in NetSuite to ensure accurate reporting.
Due to the complexities of meeting requirements for various tax jurisdictions, your initial point of sale tax setup is performed by NetSuite Professional Services or similar departments. However, you can use the topics in this NSPOS chapter to make certain modifications as needed to cover changes for your business.
-
Preventing Tax Rounding Discrepancies by using Discount Items
-
Considerations for Returns after Tax Adjustments to Discounts
Unless you will use SuiteTax, do not enable the NetSuite SuiteTax application, Enabling SuiteTax disables the NetSuite data your environment uses now for tax calculations. Restoring your tax setup using a new implementation can require significant time and effort, and can cause you to incur additional costs.