Philippines Help Topics
Overview
The following Help topics provide information about NetSuite features that are specific to Philippines business setting and requirements only. General NetSuite features are covered in other chapters and topics.
The NetSuite International edition can be configured to enable the following features and reports for companies doing business in Philippines.
General Setup
Functional Area |
Feature |
Description |
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Account Setup |
Enable features and preferences specific to Philippines business setting. |
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You can enable multiple languages in NetSuite. Set up English (International) for the user interface and Help Center. |
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Enable your preferred number, date and currency formats, as well as time zone. |
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Mobile Devices |
Configure NetSuite localization settings for mobile devices |
Accounting
Functional Area |
Feature |
Description |
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Banking |
For importing bank account statements to use in bank reconciliation, NetSuite International Edition supports multiple formats for bank account statements. |
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Taxation |
NetSuite provides pre-configured VAT tax codes and rates and the capability to automatically calculate VAT in transactions. NetSuite also enables application of nondeductible tax on certain transactions, wherein input VAT is not reclaimable. See Recording Nondeductible Input Tax |
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NetSuites supports generation of the following VAT reports in PDF format:
These reports can be used as reference for filling out the official form submitted to the Bureau of Internal Revenue. NetSuite also supports generation of the following VAT Reconciliation of Listings for Enforcement (RELIEF) reports:
These reports are required attachments to the Quarterly VAT Report (VAT Form 2550Q). They are available in CSV and PDF format, as well as in DAT format, suitable for electronic filing with the Bureau of Internal Revenue. |
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NetSuite provides pre-configured expanded or creditable withholding tax codes and rates and the capability to automatically calculate withholding tax for transactions. Other withholding tax types such as final withholding tax and VAT withholding has to be manually configured if needed. |
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NetSuite supports generation of printable Certificate of Creditable Withholding Tax Withheld at Source (Form 2307). NetSuite also supports generation of the following withholding tax reports in PDF format:
These reports can be used as reference for filling out the official form submitted to the Bureau of Internal Revenue. NetSuite also supports generation of the following reports submitted as attachment to the withholding tax returns:
These reports are available in CSV and PDF format, as well as in DAT format, suitable for electronic filing with the Bureau of Internal Revenue. A Withholding Tax Code field is added to vendor, customer and item records. This is used for tracking and reporting withholding tax. |
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NetSuite supports generation of electronic records or books of accounts required by Philippines Revenue Regulation 9-2009, which must be submitted to the Bureau of Internal Revenue (BIR), if requested, during tax audits. These are available in the required CSV format.
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Order Management
Functional Area |
Feature |
Description |
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Billing and Invoicing |
The Philippines Localization SuiteApp supports Philippines invoicing in accounts with SuiteTax. The SuiteApp includes Standard Philippines Forms, Philippines Document Types, and PDF/HTML templates for invoicing. |
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Philippines invoicing features are also included in the Southeast Asia Localization SuiteApp. The SuiteApp includes localized templates for printing VAT invoice, VAT official receipt and credit memo. The SuiteApp also includes features for generating and adding the following to documents:
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Payment Processing |
Integration with local payment gateway service providers AsiaPay and AsiaPay External Checkout for accepting credit card payments from customers. |
Taxation Features for Accounts With SuiteTax
The following table describes taxation features in the Philippines. These features are for accounts with SuiteTax. For more information, see SuiteTax.
Feature |
Description |
Prerequisites |
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Guides you through the process of setting up nexuses. |
Your NetSuite account administrator must submit a SuiteTax enablement request and enable the SuiteTax feature in your NetSuite account. See Enabling the SuiteTax Feature. Install the following:
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Guides you through the process of setting up the Philippines Localization SuiteApp for accounts with SuiteTax enabled. |
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Provides information to set up and use Philippines invoicing features with SuiteTax. |
Required SuiteApps
SuiteApp |
Description |
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Supports VAT and GST reporting and online filing for more than 42 countries across Europe, Asia, and Latin America, all generated in the local format for ease and accuracy of submission. Includes EU Sales List reports, Intrastat reports, sales and purchase reports by tax code, and pre-configured tax codes when a new nexus is created. |
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Tracks withholding tax on sales and purchase transactions, and records it on the general ledger either at the time of accrual or at the time of payment, depending on the country's taxation rules. Provides summary and detailed withholding tax reports. |
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Generates extracts of general ledger and sub ledger data from NetSuite, to be used by tax authorities to audit transaction data. Includes Singapore IAF, Mexico DIOT, OECD SAF-T, Portugal SAF-T PT, and Philippines RR09-2009 audit files. |
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Enables management of nondeductible input taxes on vendor bills, expense reports, checks, and vendor bill credits in NetSuite. |
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Enables integration with various regional payment gateways to provide international credit card processing and merchant services |
Certification
Companies using a computerized accounting system in the Philippines are required to apply for a permit to use Computerized Accounting System (CAS) from the Bureau of Internal Revenue (BIR). For more information, refer to the Bureau of Internal Revenue website.