Tuesday, July 16, 2019

Tax Rate is incorrect in Check/Credit Card transaction created from Reconciliation's New Charges/New Deposit

Scenario:

·        User has default Tax Codewith rate other than zero under Setup > Accounting> Set Up Taxes

·        User navigated to Transactions> Bank > Reconcile Bank Statement / Credit Card Statement

·        User entered an Other Chargein the New Charges tab

·        User opened the Check/Credit Cardvia Transactions > Bank > WriteCheck/Use Credit Card > List

·        Tax Rate for the Tax Code is zero

 

Findings:

·        Bank Reconciliation is only concern with the bank account part of a transaction andnot the tax computation of a transaction

·        Adding Tax Code in Bank Reconciliation is still an enhancement (133497)

 

·        NetSuite is not designed to split the amount entered in the Account line in the New Charges tab between the account and the Tax Code account (using the TaxCode's Tax Rate)

 

·        NetSuite will enter in the full amount to the account specified in the NewCharge tab and a zero Tax Ratein the transaction

 

·        NetSuite will use a zero Tax Ratebecause it will be misleading to end users who will view the transaction ifthere is a non-zero Tax Rate but zero Tax Amount in the transaction.

 

·        The same is true with the amount and Tax Code from Deposit/ CCard Refund created via Bank/Credit Card Reconciliation'sNew Deposits/New Credits

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