1. Country-Specific Features
  2. Denmark Help Topics
  3. Denmark Account Setup

Denmark Account Setup

Setting up an account for an organization doing business in Denmark usually requires enabling several features and installing some additional SuiteApps.

Enabling Features

Some features available in your NetSuite account can be very important or even essential for users in Denmark. If they are inactive, you should consider enabling them. Follow the instructions below to enable the most common features beneficial for users in Denmark. However, if you want to get access to some specific product area, go to the Functional Areas help topic and check the exact requirements.

If you don’t have sufficient permissions to enable features, please contact your account administrator.

To enable most common features:

  1. Go to Setup > Company > Setup Tasks > Enable Features.

  2. On the Company subtab, go to the International subtab, and check the Multi–language and Multiple Currencies boxes.

  3. (Optional) On the Accounting subtab, go to the Basic features subtab, and check the GL Audit Numbering box.

  4. (Optional) On the Accounting subtab, go to the Advanced features subtab, and check the Period End Journal Entries and Foreign Currency Variance Mapping boxes.

  5. On the SuiteCloud subtab, enable the following features:

    • SuiteBuilder

    • SuiteScript

    • SuiteGL

    • SuiteFlow

    For more information about SuiteCloud features, see SuiteCloud Features.

  6. If your company is registered for EU One Stop Shop, on the Tax subtab check the EU One Stop Shop box.

  7. Click Save.

Available SuiteApps

Some additional features will only become active if you install a specific SuiteApp to your NetSuite account. SuiteApps are applications that extend NetSuite for specific industry and business needs. If you would like to get access to some specific product area, go to the Functional Areas help topic and check which SuiteApps are required to be installed. Denmark-specific features are currently available in the following SuiteApps:

SuiteApp

Area

Description

Electronic Bank Payments

Payments

Enables bank payments of vendor bills, employee expenses, partner and employee commissions, customer refunds, and customer payments within Denmark.

International Tax Reports

Taxation (Accounts without SuiteTax)

For accounts without SuiteTax, the International Tax Reports SuiteApp is used to generate the Denmark VAT reports in Danish or English, and generic sales and purchase reports by tax code, the generic EU sales list report, and the Intrastat report.

Supplementary Tax Calculation

Taxation (Accounts without SuiteTax)

Manages EU reverse charges though automatic posting of notional VAT to the General Ledger, and provides support for the calculation of non-deductible input tax. This SuiteApp works in conjunction with the International Tax Reports SuiteApp and is not compatible with SuiteTax. For more information, see Setting Up Tax Codes to Post Notional Tax Amounts and Recording Nondeductible Input Tax. This SuiteApp also supports VAT on prompt payment discounts. For more information, see Recording Tax on Prompt Payment Discount.

If the SuiteTax feature is enabled in your NetSuite account, do not install the Supplementary Tax Calculation SuiteApp.

Tax Audit Files

Taxation (Accounts without SuiteTax)

This SuiteApp enables tax payers to provide their electronic records to tax auditors in support of their tax returns, and for auditors to review accounting records.

This feature is not currently legally mandated in Denmark.

SuiteTax Engine

Taxation (Accounts with SuiteTax)

For accounts with SuiteTax, the SuiteTax Engine sets default tax codes based on local tax requirements.

You must install these SuiteApps in the following order:

  1. SuiteTax Engine

  2. SuiteTax Records

  3. Tax Reporting Framework

SuiteTax Records

Taxation (Accounts with SuiteTax)

For accounts with SuiteTax, SuiteTax Data Records provides tax rates for countries that use VAT/GST. This SuiteApp is used with the SuiteTax Engine SuiteApp. For more information, see Installing the SuiteTax Data Records Bundle.

You must install these SuiteApps in the following order:

  1. SuiteTax Engine

  2. SuiteTax Records

  3. Tax Reporting Framework

Tax Reporting Framework

Taxation (Accounts with SuiteTax)

This SuiteApp enables to generate VAT reports, tax audit files, EU Cross-Border reports (Intrastat and EC Sales List). Currently there are no reports available for Denmark.

You must install these SuiteApps in the following order:

  1. SuiteTax Engine

  2. SuiteTax Records

  3. Tax Reporting Framework

Denmark Localization

  • Accounting

  • Taxation (Accounts without SuiteTax)

  • Payments

Supports localization features for Denmark.

Important:

This SuiteApp is not compatible with SuiteTax.

Denmark Tax Reports

Taxation (Accounts without SuiteTax)

Lets you generate the Denmark Standard Audit File for Tax (SAF-T) report.

One Stop Shop SuiteApp Overview

Taxation (NetSuite Accounts With or Without SuiteTax)

Enables the EU VAT One Stop Shop Reports (OSS) generation. OSS is categorized into three specific schemes: Non-Union OSS Scheme, Union OSS Scheme, and Import OSS Scheme. These schemes allow taxable persons to declare and pay VAT due in Member States where the taxable persons are not established.

To learn more about SuiteApps installation, see Installing a Bundle.

For more information about SuiteApps, see SuiteApps.

Related Topics

General Notices