Creating a Nature of Transaction Code

The International Tax Reports SuiteApp includes nature of transaction codes for some countries. If the code you need is not provided by the SuiteApp, you must create a nature of transaction code.

To create a new NoTC:

1. Go to Setup > Accounting > Manage Tax Reporting.

2. Click the Intrastat Reporting subtab.

3. Select a nexus.

4. Click New NOTC:

   1. Enter a description in the NOTC Description field. The NoTC Description field truncates text of more than 300 characters.

   2. Enter a code in the NOTC Code field. This code is the two-digit number provided by each country's statistics authorities that identifies the type of transaction.

      Note:

      Starting January 1, 2022, transaction codes must have two digits.

   3. The NoTC Country field is automatically set to the nexus chosen.

5. Click Save.

Related Topics:

Nature of Transaction Code

Setting Up Nature of Transaction Codes

Setting Up Default Nature of Transaction Codes on Transaction Records

Country-Specific Nature of Transaction Codes

General Notices