China Help Topics

Overview

The following Help topics provide information about NetSuite features that are specific to Chinese business setting and requirements only.

General NetSuite features are covered in other chapters and topics.

General Setup

Functional Area

Feature

Description

Required Setup

Setting Up China Localization

Provides an overview of NetSuite China Localization and references to setup steps.

Setting Up General Company Preferences

Provides instructions on how to configure the required settings in company preferences.

Setting Up Custom Transaction Forms for China

Provides an overview of the required custom forms that need to be configured.

Setting the China Max VAT Invoice Amount

In China, you can define the maximum amount charged in a single invoice. The China Max VAT Invoice Amount field enables you to set this limit.

Customizing Creator, Poster, and Approver in China Voucher Printing Report  

In China, companies print accounting vouchers for transactions that affect the general ledger. These vouchers are used for statutory audit requirements.

Customizing the China Balance Sheet Report

The NetSuite China Localization provides a default balance sheet and enables you to customize this report.

Customizing China Income Statement Report

The NetSuite China Localization provides a default income statement report and enables you to customize this report.

Enabling or Disabling China Localization Features

The NetSuite China Localization SuiteApp provides the capability to enable and disable certain features of the SuiteApp.

Roles and Permissions in China Localization

The NetSuite China Localization has features that require certain permissions to be accessed.

Toggling China Cash Flow Item Fields as Mandatory

The China Cash Flow Item field in all transactions are optional by default. By changing this setting, you can set the China Cash Flow Item as a mandatory field to complete when creating transactions.

General Preferences

Toggling China Cash Flow Item Fields as Mandatory

The China Cash Flow Item field can be set as a mandatory field when creating transactions. Set this according to company policy or requirements. This can be set company-wide or per subsidiary (OneWorld).

Accounting

Functional Area

Feature

Description

General Accounting

Using Chinese Accounting Periods 

NetSuite provides the pre-defined accounting periods that meet the requirements of common Chinese business practices.

Setting up China Cash Flow Item for Chart of Accounts

NetSuite China Localization provides the China Cash Flow Item field for your chart of accounts. This setting affects the computation in the China Cash Flow Statement Report.

Setting Up China Cash Flow Item for Inventory Items

NetSuite China Localization adds the China Cash Flow Item field for inventory items.

Setting Up China Cash Flow Item for Subsidiary

NetSuite China Localization adds the China Cash Flow Item field for subsidiaries. This setting affects all of the transactions made in the subsidiary for items without a Cash Flow Item configured for inventory items.

Generating China Voucher Printing Report

The China Voucher Printing Report enables you to print your company's accounting vouchers.

Generating the China Voucher List

 The Voucher List feature enables you to generate voucher lists for printing, reviewing voucher details, and tracking back to transaction record. You can also print single and multiple vouchers.

Banking

Setting Up China Bank Account Name

In China, a bank account name is needed when issuing VAT invoices to general taxpayer customers.

Taxation

Setting China VAT Taxpayer Types

In China, customers are divided into two categories: General Taxpayers and Small-Scale Taxpayers. These two customer types issue different VAT invoice types. Setting this automatically determines the VAT invoice type when making a sale.

Processing Red-Letter Invoices

In China, Red-Letter Invoices are issued for returns and refunds.

Generating China VAT Transactions

In China, the Golden Tax System is the only mandated system by the government to issue VAT invoices. The NetSuite China Localization enables you to generate a flatfile for exporting your transaction data. This exported data can be used in interfacing with the Golden Tax System.

Merging China VAT Transactions

NetSuite China Localization enables you to merge several transactions into one China VAT invoice.

Importing VAT Transactions from the China Golden Tax System

The NetSuite China Localization enables you to import your transaction data from the Golden Tax System. Importing your data pairs them with your transactions in NetSuite.

Enabling and Configuring China Golden Tax System Integration

The NetSuite China Localization provides an Application Programming Interface (API) that you can configure and use to build integrations with the China Golden Tax System.

Financial Statements

China Balance Sheet Report

The China Balance Sheet Report shows a summary of assets, liabilities, and equity in a particular month, quarter, or year. The report is presented in the prescribed layout.

China Cash Flow Statement Report

The China Cash Flow Statement Report  shows a company’s cash flow for a specific period. The report is presented in the prescribed layout.

China Income Statement Report

The China Income Statement Report shows a company’s income, expenses, and net income for a specific period. The report is presented in the prescribed layout.

Financial Reports

China Account Balance Report

The China Account Balance Report contains account balances filtered and grouped according to subsidiary, date range, account level, and account range in a China specific layout.

China Subledger Report

The China Subledger Report contains financial transactions which covers the chart of accounts, debit and credit columns, and a document printing format specific to Chinese local practices.

China Cash & Bank Journal Ledger Report

The China Cash & Bank Journal Report shows journal activities in relation to a company’s cash and bank accounts. This can be configured according to subsidiary, date range, and account range presented in a China specific layout.

Order Management

Functional Area

Feature

Description

Billing and Invoices

Override VAT Invoice Type

NetSuite China Localization automatically determines the VAT invoice type according to the customer's taxpayer type. You can override this field as needed.

Override China Cash Flow Item

NetSuite China Localization automatically determines the China Cash Flow Item of an item in a sale. You can override this field as needed.

Item Record Management

Functional Area

Feature

Description

Item Records General

Setting Up China Cash Flow Item for Inventory Items

NetSuite China Localization provides the China Cash Flow Item field for your item records. This setting affects the computation in the China Cash Flow Statement Report.

Setting Up China Item Models for Inventory Items

In China, the Item Model is an optional field that can be added to a transaction line when issuing VAT invoices.

Required SuiteApps

SuiteApp

Description

China Localization

Provides China-specific features including accounting vouchers, localized financial reports, localized tax reports, and localized transaction and entity fields.

General Notices