Making Adjustments on a Country Tax Report

Tax Reporting Framework provides your account with the Country Tax Report page where you can make adjustments on a generated VAT/GST report.

Note:

This feature is not available in U.K. VAT report. Check the HMRC website for instructions on how to make the adjustment.

To make an adjustment on a country tax report:

1. In NetSuite, go to Report > Tax > Country Tax Reports.

2. On the Report Execution Log subtab, locate the report that you want to view.

   The Report Execution Log displays a list of all generated reports in descending order of date and time when the reports were run. You may use the row dropdown filter to view older reports.

3. In the View | Download column, click View to open the report or Download to download the ZIP file.

4. On the Language list, you may select English or the country’s local language to view the report.

5. All sales and purchase tax amounts that can be adjusted have an Open icon . Click this icon to open the Journal window.

6. Complete the new journal entry form.

   For more information, see Creating Journal Entries with Tax Impact in SuiteTax. If adjusting a country tax report in accounts without SuiteTax, see Adjusting A Country Tax Report In Accounts Without SuiteTax.

7. Click Save.

   This action closes the Journal window and refreshes the report to show the adjusted values.

Adjusting A Country Tax Report In Accounts Without SuiteTax

The following describes the steps on how to adjust a country tax report for accounts without SuiteTax.

Note:

Adjust Tax Report for accounts without SuiteTax feature is only available for the primary accounting book.

To adjust a country tax report for accounts without SuiteTax:

1. Open the adjust tax return page. See To make an adjustment on a country tax report: procedure and follow steps 1–5.

   This will open the Adjust Tax Return page.

2. Select a tax code from the Tax Code dropdown.

3. Enter an adjustment amount in the Adjustment field.

4. Select an account in the Account dropdown.

5. Select an action in the Action dropdown.

   • Increase – adds the value in the Adjustment field to the box being adjusted.

   • Decrease – subtracts the value in the Adjustment field from the box being adjusted.

6. (Optional) Select a department from the Department dropdown.

7. (Optional) Select a location from the Location dropdown.

8. (Optional) Enter a memo in the Memo field.

   If left blank, this field defaults to “Adjustments to Box <box number>.”

9. (Optional) Select a name from the Name dropdown.

10. (Optional) Select a class from the Class dropdown.

11. Click Save.

For more information about the reported values in the country tax report, see the tax report’s help topic on Country Tax Reports in Tax Reporting Framework.

To export the generated country tax report, see Exporting a Country Tax Report.

Related Topics

• Exporting a Country Tax Report
• Generating Localized Country Tax Reports
• Viewing a Generated Country Tax Report
• Setting Up Country Tax Reporting Preferences
• Electronic Tax Filing in Tax Reporting Framework
• Customizing Localized Tax Returns
• Assigning a Tax Reporting Category
• Country Tax Reports in Tax Reporting Framework
• Building Tax Reports with Tax Reporting Framework
• Tax Reporting Framework Error Codes
• Known Limitations of Tax Reporting Framework
• Installing Tax Reporting Framework
• Roles and Permissions in Tax Reporting Framework

General Notices