Singapore Help Topics

Overview

The following Help topics provide information about NetSuite features that are specific to Singapore business setting and requirements only. General NetSuite features are covered in other chapters and topics.

The NetSuite International edition can be configured to enable the following features and reports for companies doing business in Singapore.

General Setup

Functional Area	Feature	Description
Required Setup	Setting up Singapore-specific Features and Preferences	Enable features and preferences specific to Singapore business setting.
Choosing a Language for Your NetSuite User Interface	You can enable multiple languages in NetSuite. Set up English (International) for the user interface and Help Center. Or you can enable Simplified and Traditional Chinese in the user interface. Trading documents can be configured to comply with local requirements and issued in partner’s language.
Configuring Company Information Setting Personal Preferences	Support for your preferred number, date, address, phone, and currency formats as well as time zone
Mobile Devices	Configuring NetSuite for Mobile	Configure NetSuite localization settings for mobile devices.

Functional Area

Feature

Description

Required Setup

Setting up Singapore-specific Features and Preferences

Enable features and preferences specific to Singapore business setting.

Choosing a Language for Your NetSuite User Interface

You can enable multiple languages in NetSuite. Set up English (International) for the user interface and Help Center. Or you can enable Simplified and Traditional Chinese in the user interface. Trading documents can be configured to comply with local requirements and issued in partner’s language.

Configuring Company Information

Setting Personal Preferences

Support for your preferred number, date, address, phone, and currency formats as well as time zone

Mobile Devices

Configuring NetSuite for Mobile

Configure NetSuite localization settings for mobile devices.

Accounting

Functional Area	Feature	Description
Banking	Supported File Formats for Default Parsers	NetSuite International Edition supports multiple formats for bank account statements. You can import bank account statements to use in bank reconciliation.
Taxation	Singapore Tax Topics for Accounts Without SuiteTax Accounting for Goods and Services Tax - Singapore	NetSuite provides the capability to calculate Goods and Services Tax in Singapore. Pre-configured Singapore GST tax codes and tax rates Automatic calculation of GST in transactions
Singapore GST Report	Pro-forma GST Return (GST F5) that can be used as basis for filing to the Inland Revenue Authority of Singapore (IRAS).
Singapore Tax Audit File	IRAS Audit (IAF) in TXT and XML versions, which are compliant with the IRAS Guide on Accounting Software.
Singapore Localization	The SuiteApp provides features, templates and tax reporting necessary to operate businesses in Singapore. Automatic provisioning of Singapore tax codes. Generate GST F5 Return and IRAS Audit File that are compliant with the latest IRAS guidelines.

Functional Area

Feature

Description

Banking

Supported File Formats for Default Parsers

NetSuite International Edition supports multiple formats for bank account statements. You can import bank account statements to use in bank reconciliation.

Taxation

Singapore Tax Topics for Accounts Without SuiteTax

Accounting for Goods and Services Tax - Singapore

NetSuite provides the capability to calculate Goods and Services Tax in Singapore.

Pre-configured Singapore GST tax codes and tax rates
Automatic calculation of GST in transactions

Singapore GST Report

Pro-forma GST Return (GST F5) that can be used as basis for filing to the Inland Revenue Authority of Singapore (IRAS).

Singapore Tax Audit File

IRAS Audit (IAF) in TXT and XML versions, which are compliant with the IRAS Guide on Accounting Software.

Singapore Localization

The SuiteApp provides features, templates and tax reporting necessary to operate businesses in Singapore.

Automatic provisioning of Singapore tax codes.
Generate GST F5 Return and IRAS Audit File that are compliant with the latest IRAS guidelines.

Order Management

Functional Area	Feature	Description
Payment Processing	Singapore Payment Formats	Process bank payments for vendor bills, employee expenses, partner and employee commissions, and customer refunds, as well as receive bank payments from customers. Support for the following file formats for Electronic Funds Transfer (EFT): DBS IDEAL (DBS Bank) UOB BIB-IBG (United Overseas Bank) HSBC ISO 20022 (HSBC) DBS Singapore Ideal 3.0 Universal File Format Domestic Transfer DBS Singapore Ideal 3.0 Universal File Format International Transfer Citibank Singapore XML Domestic Transfer Citibank Singapore XML International Transfer Citibank Singapore XML GIRO HSBC Singapore pain.001.001.03 Low and High Value Domestic Payments JP Morgan Singapore pain.001.001.03 Low and High Value Domestic Payments OCBC Singapore GIRO and FAST Payments Standard Chartered Bank Singapore iPayment CSV GIRO and Domestic Payments UOB Singapore pain.001.001.03 GIRO, FAST and Domestic Payments Support for the following file formats for Direct Debit (DD): DBS IDEAL DD (DBS Bank) UOB BIB-IBG DD (United Overseas Bank)
Setting Up Regional Payment Gateways	Integration with local payment gateway service providers AsiaPay and eWAY to accept credit card payments from customers. Acceptance of credit card payments by AsiaPay and eWAY payment gateways
Invoicing	Singapore Tax Invoice and Credit Note Templates	You can customize templates for tax invoice and credit note that complies with Singapore GST requirements and meets local business practices. The templates also contain required information for transactions in foreign currency and those composed of several items with different tax codes. These also enable compliance with Singapore customer accounting requirements for issuing tax invoices and credit notes to customers.
Singapore PEPPOL-Ready e-Invoicing	Lets you generate outbound e-documents from invoices and credit memos, and then send them to the Singapore PEPPOL API (Application Programming Interface). You can also receive inbound e-documents from the Singapore PEPPOL API and then convert them into vendor bills in NetSuite.

Functional Area

Feature

Description

Payment Processing

Singapore Payment Formats

Process bank payments for vendor bills, employee expenses, partner and employee commissions, and customer refunds, as well as receive bank payments from customers.

Support for the following file formats for Electronic Funds Transfer (EFT):
- DBS IDEAL (DBS Bank)
- UOB BIB-IBG (United Overseas Bank)
- HSBC ISO 20022 (HSBC)
- DBS Singapore Ideal 3.0 Universal File Format Domestic Transfer
- DBS Singapore Ideal 3.0 Universal File Format International Transfer
- Citibank Singapore XML Domestic Transfer
- Citibank Singapore XML International Transfer
- Citibank Singapore XML GIRO
- HSBC Singapore pain.001.001.03 Low and High Value Domestic Payments
- JP Morgan Singapore pain.001.001.03 Low and High Value Domestic Payments
- OCBC Singapore GIRO and FAST Payments
- Standard Chartered Bank Singapore iPayment CSV GIRO and Domestic Payments
- UOB Singapore pain.001.001.03 GIRO, FAST and Domestic Payments
Support for the following file formats for Direct Debit (DD):
- DBS IDEAL DD (DBS Bank)
- UOB BIB-IBG DD (United Overseas Bank)

Setting Up Regional Payment Gateways

Integration with local payment gateway service providers AsiaPay and eWAY to accept credit card payments from customers. Acceptance of credit card payments by AsiaPay and eWAY payment gateways

Invoicing

Singapore Tax Invoice and Credit Note Templates

You can customize templates for tax invoice and credit note that complies with Singapore GST requirements and meets local business practices. The templates also contain required information for transactions in foreign currency and those composed of several items with different tax codes. These also enable compliance with Singapore customer accounting requirements for issuing tax invoices and credit notes to customers.

Singapore PEPPOL-Ready e-Invoicing

Lets you generate outbound e-documents from invoices and credit memos, and then send them to the Singapore PEPPOL API (Application Programming Interface). You can also receive inbound e-documents from the Singapore PEPPOL API and then convert them into vendor bills in NetSuite.

Taxation Features for Accounts With SuiteTax

The following table describes taxation features in Singapore. These features are for accounts with SuiteTax. For more information, see SuiteTax.

Feature	Description	Prerequisites
Setting Up Nexuses in SuiteTax	Guides you through the process of setting up nexuses.	Your NetSuite account administrator must submit a SuiteTax enablement request and enable the SuiteTax feature in your NetSuite account. See Enabling the SuiteTax Feature. Install the following: SuiteTax Engine (see Installing the SuiteTax Engine and Enabling the SuiteTax Plug–In) SuiteTax Data Records (see Installing the SuiteTax Data Records Bundle)
Setting Up Singapore Localization	Guides you through the process of setting up the Singapore Localization SuiteApp for accounts with SuiteTax enabled.
Singapore Localization Tax Codes	Provides information about tax codes and tax types for accounts with a Singapore nexus.
Singapore Localization Reports	Guides you through the process of generating the following reports: Singapore IRAS Audit File Singapore GST F5 Return

Feature

Description

Prerequisites

Setting Up Nexuses in SuiteTax

Guides you through the process of setting up nexuses.

Your NetSuite account administrator must submit a SuiteTax enablement request and enable the SuiteTax feature in your NetSuite account. See Enabling the SuiteTax Feature.

Install the following:

SuiteTax Engine (see Installing the SuiteTax Engine and Enabling the SuiteTax Plug–In)
SuiteTax Data Records (see Installing the SuiteTax Data Records Bundle)

Setting Up Singapore Localization

Guides you through the process of setting up the Singapore Localization SuiteApp for accounts with SuiteTax enabled.

Singapore Localization Tax Codes

Provides information about tax codes and tax types for accounts with a Singapore nexus.

Singapore Localization Reports

Guides you through the process of generating the following reports:

Singapore IRAS Audit File
Singapore GST F5 Return

Required SuiteApps

SuiteApp	Description
International Tax Reports	Supports VAT and GST reporting and online filing for more than 42 countries across Europe, Asia, and Latin America, all generated in the local format for ease and accuracy of submission. Includes EU Sales List reports, Intrastat reports, sales and purchase reports by tax code, and pre-configured tax codes when a new nexus is created.
Tax Audit Files	Generates extracts of general ledger and sub ledger data from NetSuite, to be used by tax authorities to audit transaction data. Includes Singapore IAF, Mexico DIOT, OECD SAF-T, Portugal SAF-T PT, and Philippine RR09-2009 audit files.
Electronic Bank Payments	Enables creation of payment files for processing local payments for vendors, employees, and customers (refund), and for receiving payments from local customers. Using the SuiteApp, companies operating within one country, using a single currency, can create payment files for domestic payments in local currency. The SuiteApp is freely available for download by all customers and provides payment capabilities for local banks in your region.
Payment Gateway	Enables integration with various regional payment gateways to provide international credit card processing and merchant services
Southeast Asia Localization	Provides invoicing features for Malaysia, Singapore and Thailand that meet the minimum regulatory requirements and local business expectations in both countries. The SuiteApp includes templates that you can use to print and issue tax invoices and credit memos or notes to customers in Malaysia, Singapore and Thailand. The SuiteApp also comes with electronic bank payment file formats for Singapore and Malaysia.
Singapore Localization	Provides templates and tax reporting features necessary to operate businesses in Singapore. The SuiteApp includes templates that you can use to generate tax reports and audit files compliant with Singapore requirements.
Singapore PEPPOL-Ready e-Invoicing	Lets you exchange e-documents with your Singapore customers and vendors through eInvoice.sg, a primary PEPPOL Access Point in Singapore. The SuiteApp can generate outbound e-documents from invoices and credit memos and then send them to the Singapore PEPPOL API (Application Programming Interface). It can also receive inbound e-documents from the Singapore PEPPOL API and then convert them into vendor bills in NetSuite.

SuiteApp

Description

International Tax Reports

Supports VAT and GST reporting and online filing for more than 42 countries across Europe, Asia, and Latin America, all generated in the local format for ease and accuracy of submission. Includes EU Sales List reports, Intrastat reports, sales and purchase reports by tax code, and pre-configured tax codes when a new nexus is created.

Tax Audit Files

Generates extracts of general ledger and sub ledger data from NetSuite, to be used by tax authorities to audit transaction data. Includes Singapore IAF, Mexico DIOT, OECD SAF-T, Portugal SAF-T PT, and Philippine RR09-2009 audit files.

Electronic Bank Payments

Enables creation of payment files for processing local payments for vendors, employees, and customers (refund), and for receiving payments from local customers. Using the SuiteApp, companies operating within one country, using a single currency, can create payment files for domestic payments in local currency. The SuiteApp is freely available for download by all customers and provides payment capabilities for local banks in your region.

Payment Gateway

Enables integration with various regional payment gateways to provide international credit card processing and merchant services

Southeast Asia Localization

Provides invoicing features for Malaysia, Singapore and Thailand that meet the minimum regulatory requirements and local business expectations in both countries. The SuiteApp includes templates that you can use to print and issue tax invoices and credit memos or notes to customers in Malaysia, Singapore and Thailand. The SuiteApp also comes with electronic bank payment file formats for Singapore and Malaysia.

Singapore Localization

Provides templates and tax reporting features necessary to operate businesses in Singapore. The SuiteApp includes templates that you can use to generate tax reports and audit files compliant with Singapore requirements.

Singapore PEPPOL-Ready e-Invoicing

Lets you exchange e-documents with your Singapore customers and vendors through eInvoice.sg, a primary PEPPOL Access Point in Singapore. The SuiteApp can generate outbound e-documents from invoices and credit memos and then send them to the Singapore PEPPOL API (Application Programming Interface). It can also receive inbound e-documents from the Singapore PEPPOL API and then convert them into vendor bills in NetSuite.

Certification

The Inland Revenue Authority of Singapore (IRAS) lists the accounting software that are able to meet its technical requirements as set out in the e-Tax Guide: Guide on Accounting Software for Software Developers. This listing is updated annually. NetSuite is listed in the IRAS Accounting Software Register.

To know more about setting up NetSuite accounts and subsidiaries, refer to the following Help topics:

Set up NetSuite OneWorld
Creating Subsidiary Records
Subsidiaries in OneWorld– for companies using NetSuite across multiple subsidiaries and countries

General Notices