ANS-1490 · SUITETAX & TAX MANAGEMENT
NetSuite Saved Search: Calculate Half Tax Expenses for Reporting
This guide outlines the steps to configure a NetSuite saved search that identifies and calculates deductible amounts for expense reports eligible for half tax.
Short answer
To create a saved search for half tax expenses, first create a custom 'Half Tax Eligible' field on the Expense Category. Then, configure a saved search with specific criteria to filter expense reports and calculate the absolute value of the tax amount and the deductible amount using the formula `{taxamount}*0.5`.
Scenario
Organizations often need to track and report on expense reports where only half of the associated tax amount is deductible. A common challenge is accurately identifying these expenses and calculating the correct deductible amount within NetSuite for reporting purposes.
Solution
Create a custom other record field on the Expense Category.
- Field Name: "Half Tax Eligible"
Create a new Saved Search with the following configurations:
- Criteria:
- Type is Expense Report
- Expense Category : Half Tax Eligible (custom) is true
- Main Line is false
- Tax Line is false
- Shipping Line is false
- COGS Line is false
- Results:
- Field: Amount Tax
- Function: Absolute value
- Custom Label: Tax Amount
- Field: Formula (Currency)
- Function: Absolute value
- Formula:
{taxamount}*0.5- Custom Label: Deductible Amount
- Important Note on Criteria Selection: To ensure accurate results, it is critical to set "Main Line is false", "Tax Line is false", "Shipping Line is false", and "COGS Line is false". Relying solely on "Tax Line is true" can lead to inconsistent data, where some eligible expense reports may not be correctly identified.
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