Setting Up for a Compliant PT SAF-T

This section refers to the setup of your NetSuite account for using features provided by the Portugal Localization SuiteApp.

You must do the following to ensure that the PT SAF-T file you generate contains the correct information, and complies with the requirements of the Portugal Tax and Customs Authority:

Run a GL audit numbering sequence on your transactions. For more information, see Running a GL Numbering Sequence for Portugal Transactions.
Set a taxonomy reference on your Portugal subsidiary. For more information, see Setting the Taxonomy Reference of a Portugal Subsidiary.
With the Tax Audit Files SuiteApp installed, perform the following mappings:
- Map accounts associated with your Portugal subsidiary to PT SAF-T grouping category. For more information, see Mapping Portugal GL Accounts to SAF-T Categories.
- Map taxonomy codes to accounts associated with your Portugal subsidiary. For more information, see Mapping Taxonomy Codes to Portugal GL Accounts.
With the Portugal Localization SuiteApp installed, do the following:
- Ensure that your tax codes (with a Portugal nexus) are assigned properties, and fiscal spaces. For more information, see Setting Portugal Tax Code Information.
  
  Note:
  The Portugal Localization SuiteApp does not support using tax groups in sales transactions because it is not the leading practice. Tax groups are excluded from the SAF-T for Accounting and SAF-T for Billing reports. For more information, see Tax Groups in Portugal Localization SuiteApp.
- Enter a valid Commercial Registration Number and Commercial Registry Office. For more information, see Entering Commercial Registration Information.
Fill in the Portugal Tax Exemption Reason field for every tax code that is Exempt and with a zero tax rate. For more information, see Entering a Portugal Tax Exemption Reason.
Enable the Period End Journal Entry feature so that you can close your Portugal accounts. For more information, see Enabling the Period End Journal Entries Feature.
As required by the Portugal generally acceptable accounting principles (GAAP), close your profit and loss accounts at the end of the Fiscal Year. You can close these accounts by doing any of the following:
- Use the Create Period End Journals task in the Period Close Checklist. For more information, see Period End Journal Creation Process.
- Create a journal entry to close the profit and loss accounts. Go to Transactions > Financial > Make Journal Entries.
Note:
Generate only the Income Statement Closing Journal, as recommended by the Portugal GAAP.

Running a GL Numbering Sequence for Portugal Transactions

Running a GL audit numbering sequence on your GL-impacting transactions under a Portugal subsidiary is important to successfully generate the PT SAF-T file. This process ensures that all transactions within the selected period when generating the SAF-T are assigned GL numbers.

Important:

You must run one GL numbering sequence for every Fiscal Year and subsidiary combination.

To run a GL numbering sequence for Portugal transactions:

Go to Transactions > Management > GL Audit Numbering Sequences > New.
In the Name field, enter an identifying name for this sequence.
In the Available Open Periods field, select a posting period.
In the Available Subsidiaries field, select a Portugal subsidiary.
In the Numbering Type field, select any of the following, depending on your preference:
- Repeatable – You can re-run the numbering sequence on GL impacting transactions as often as required to address gaps in numbering that might occur due to adjustments made to your GL
- Permanent – The number assigned to a GL impacting transaction cannot be changed. You can, however, modify the details of the original GL impacting transaction.
If you have the Full Multi-Book Accounting feature enabled, in the Accounting Book field, select the book that you will use to generate the SAF-T file.
In the Numbering subtab, do the following:
1. Make sure the Prefix and Suffix fields are empty.
2. In the Order By field, select Transaction Date.
Click Save.
On the GL Audit Numbering page, check the box of your newly created sequence.
Click Run.

For more information, see Running GL Audit Numbering Sequences.

Setting the Taxonomy Reference of a Portugal Subsidiary

The taxonomy reference information is included in the PT SAF-T file, and is the basis for mapping your Portugal accounts to specific taxonomy codes. The Taxonomy Reference field on your Portugal subsidiary record must be filled. Otherwise, the PT SAF-T file cannot be generated successfully.

The Taxonomy Reference field is only available if you have the Tax Audit File SuiteApp installed. For more information, see Prerequisites for Installing the Portugal Localization SuiteApp.

To set the taxonomy reference of a Portugal subsidiary

Go to Setup > Company > Classifications > Subsidiaries.
Click Edit next to the name of the Portugal subsidiary you want to assign a taxonomy reference.
In the Taxonomy Reference field, select any of the following:
- Standard Chart of Accounts
- International Standard Chart of Accounts
- SNC for Smaller Units
- Other
Click Save.