3. Setting up Tax Codes, Groups and Schedules

Tax codes and groups are required to set the appropriate taxes. Although Stax Bill manages taxes, NetSuite requires using tax codes and groups. You must create both, with rates set to 0, which will be managed and overridden by Stax Bill to correct amounts.

Prerequisite

You must have a tax-exempt schedule created in NetSuite. Refer to the NetSuite documentation for further details.

Setting Up a Tax Code

To set up tax groups and codes, complete the following:

1. Log into NetSuite and navigate to Setup >Accounting >Tax Codes.
2. On the Tax Codes page, click New Tax Code.
3. On the following page, you may be asked to select a country. Click on the appropriate country.
4. On the New Tax Code page, type Stax Bill Tax in the Tax Name field.
5. In the Rate field, enter 0.
6. (Optional) In the Subsidiary field, select all subsidiaries.
7. In the Tax Agency field, select the appropriate Tax Agency.
8. Select the appropriate account in the Tax Account field, such as Sales Tax Payable.

Setting up a Tax Group

1. Log into NetSuite and navigate to Setup >Accounting >Tax Groups.
2. On the Tax Groups page, click New.
3. On the New Tax Group page, type Stax Bill Tax in the Tax Code field.
4. (Optional) In the Subsidiary field, select all subsidiaries.
5. Depending on country settings, select an appropriate tax code. This tax code must have a rate of 0. I.e. Tax Exempt. Type Stax Bill Tax in the search menu of the tax code and click Add.
6. Click Save.

Setting up a Tax Schedule

1. Log into NetSuite and navigate to Setup >Accounting >Tax Schedule >New.
2. On the Tax Schedule page, click New and type Stax Bill Tax Schedule in the Product and Description fields.
3. Click Save.