Setting Up Spain-Specific Preferences

To setup your NetSuite account according to Spain-specific preferences, you must adjust your NetSuite Company, and Subsidiary settings.

Note:

Make sure that your NetSuite role has the appropriate permissions to set up company preferences specific to Spain.

To adjust NetSuite Company settings:

1. Go to Setup > Company > Setup Tasks > States/Provinces/Counties.

2. Add a record for each of the fiscal regions of Spain.

3. Go to Setup > Company > Preferences > General Preferences.

   1. In the Date Format fields, specify the date format (DD/MM/YYYY) and long date format (DD Month YYYY).

   2. In the Number Format field, specify the number format.

   3. On the Languages subtab, make sure that Spanish is selected. You can also select other languages that you want to use on your website or on printed transactions.

   4. On the Accounting Contexts subtab, create an accounting context (for example, you can call it Spain) if your main Chart of Accounts is not the statutory Spain Chart of Accounts. For more information, see Accounting Contexts.

   For more information about localizing preferences in NetSuite, see General Personal Preferences.

4. Go to Setup > Company > Setup Tasks > Company Information.

   1. Set the currency locale to Spain.

      For more information, see Setting a Base Currency.

   2. Enter the VAT registration number for the parent subsidiary.

   3. Select the appropriate time zone: (GMT+01:00) Brussels, Copenhagen, Madrid, Paris.

5. Click Save.

To adjust NetSuite Subsidiary settings:

1. Go to Setup > Company > Classifications > Subsidiaries.

2. Create a subsidiary record for each of your legal entities.

   For more information, see Creating Subsidiary Records.

3. If you are using an account without SuiteTax, set the VAT registration number.

4. On the Subsidiary page, set the following preferences:

   1. (Optional) Check the GL Impact Locking box. Enabling the GL Impact Locking feature is a FEC compliance requirement.

      This option is visible only in NetSuite OneWorld accounts when the GL Audit Numbering feature is enabled. When you use GL Impact Locking for a company or a subsidiary, any change to a general ledger impacted field or entity field on a GL numbered impacting transaction (after running a GL audit numbering sequence) automatically generates copy and reversal transactions. These transactions are displayed on the GL Impact subtab of the original general ledger impacted transaction. For more information, see GL Impact Locking.

   2. Check the Enable Period End Journal Entries box. The Period End Journal Entries feature processes and posts subsidiary consolidation and income statement closing using a transaction type called Period End Journal. Period End Journals are generated automatically when you complete the Create Period End Journals task on the Period Close Checklist. For more information, see Period End Journal Entries.

5. (Optional) If you have subsidiaries in different countries that require different format settings such as date, number, time zone, and CSV column delimiter, set those preferences on the Preferences subtab. At subsidiary level, you can also define the language that users assigned to this subsidiary will use.

Adjusting NetSuite User Preferences

As a best practice, define preferences at the company or subsidiary level. User preferences usually take precedence over the other preferences set for a role, subsidiary, or company. If a user is linked to a subsidiary, that user will inherit the settings set on the subsidiary record. For more information, see General Personal Preferences.

To set user preferences for a Spanish Account:

1. Go to Home > Set Preferences.

2. On the Localization subtab, set your preferred settings.

3. On the Formatting subtab, set your preferred settings.

4. Click Save.

General Notices