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Hi, Is there a way in NetSuite of allowing us to have a 'period 13' for tax purposes, where we can in Feb/ March post back any reserves/ tax postings post the year-end close?

Can you give a specific example of what you are actually wanting to achieve, and why?

<@UMF86VAV8> Big ones, india localisation in suitetax NS is not compliance ready for india, there exists a real 13th period within the year where in western accounting point of view it's an adjustment period, but the back date isn't an adjustment period, but calls for a real period required to be reported against

we have cases against this for our clients too, in our case it seems it'll have to be customisations, where the override and advanced number generation have to be enabled to cope with for when the user needs to back date invoices into the previous (unclosed) FY

Interesting stuff. A bit rubbish that NS have left that gap if it's required

Thanks guys. It would allow us to have trial balances that align with statutory adjustments, rather than being posted in to 2021.

Do you think it would be possible? Mind you that would be for a British company.

<@UDC8SN3S9> I think it depends on your real functionality, if you want to do adjustments in your FY, there is a NS standard feature to include an adjustment period at the end of your FY. That is journal only however.

If what you're looking for is full transaction and reporting features in that 13th period it'll have to be customisations AFAIK, unfortunately. We can discuss further if you have ideas!

<@UMF86VAV8> i mean real talk, a lot of the NS stuff in asia haven't been compliant.
Fixed assets depreciation isn't tax compliant in Japan despite of Japan localisation (like how can it be wrong, when it's designed jsut for Japan? Not saying it's just wrong for if not the scenario but it's pretty much completely borked!)

There is no Taiwan compliance unless you try to install a partner's suiteapp

China localization is not up to date to the latest (chinese government tax reporting software's latest update)

Localisation scripts can pull some crazy script errors, which i kid not, you'll have to ring NS support to find out you have to do some manual adjustments to their bundled created workflows when you encounter errors.

TLDR tax can be hard to calculate but please don't tell me my UEs and CS are bugged because they have a clash with Suitetax when they implement features which lock the record whilst suitetax is processing for example also NS takes a a great performance hit.

OK rant over, but it's been really bad. lol Not saying you shouldn't use NS in asia, but do use something else for tax then use NS, or have an auditor or IDK, just dont use NS for tax reporting only and mainly.

Thank you <@UHFES4MQQ> I will need to gather some more info from the user