Netherlands Help Topics
Overview
The following help topics provide information about NetSuite features that are specific to companies doing business in the Netherlands. The NetSuite International Edition can be configured with capabilities and reports specific to the Netherlands business settings and requirements.
To know more about localized editions of NetSuite, as well as setting up NetSuite accounts and subsidiaries, refer to the following Help topics:
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Introduction to NetSuite OneWorld for companies using NetSuite across multiple subsidiaries and countries.
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Creating Subsidiary Records in NetSuite OneWorld.
General NetSuite features are covered in other chapters and topics.
General Setup
Netherlands Account Setup – Provides an overview of NetSuite features to be enabled by the users in the Netherlands and SuiteApps available for installation.
Setting Up Netherlands-Specific Preferences – Set up your NetSuite company and user preferences for Netherlands, including date, currency, language, time zone, and support for Netherlands number, phone, and address format.
Functional Areas
Users in the Netherlands can activate and get access to different features from the following functional areas:
For information about SuiteApps installation, see Installing a Bundle.
For information about enabling NetSuite features, see Enabling Features.
If you do not have sufficient permissions to install SuiteApps or enable features, please contact your account administrator.
Accounting
Feature |
Description |
Prerequisites |
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Provides a solution if you have different account numbering requirements than the main Chart of Accounts. This is useful for specific reports and tax declarations in the Netherlands. Through the Accounting Contexts subtab on the General Preferences page, you can create a Netherlands Accounting Context, which allows mapping between the main accounts and the Netherlands numbers. |
OneWorld account |
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Applies gapless numbering sequences to all general ledger posting transactions. This is an optional feature. |
Enable the GL Audit Numbering feature. For more information, see Enabling GL Audit Numbering and Setting Preferences. |
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Enables you to lock the general ledger (GL) impact of a transaction to the GL. When you use this feature on a company or a subsidiary, any change to a GL impacted field or entity field on a GL numbered impacting transaction after running a GL audit numbering sequence automatically generates copy and reversal transactions. These transactions appear on the GL Impact subtab on the original GL impacted transaction. |
Enable the GL Audit Numbering feature. For more information, see Enabling GL Audit Numbering and Setting Preferences. Check the GL Impact Locking box on the Company Information page or Subsidiary page. |
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An optional feature that enables you to create the income closing journals, balance sheet opening and closing journals as a task in the Period End Checklist. |
Enable the Period End Journal Entries Feature and perform additional setup tasks. For more information, see Setup for Period End Journal Entries. |
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Enables you to categorize, organize, and monitor your taxable and tax-exempted allowances and benefits under the Netherlands work-related costs scheme or werkkostenregeling (WKR). |
OneWorld account Netherlands Localization SuiteApp. For more information, see Prerequisites for Installing the Netherlands Localization SuiteApp and Installing the Netherlands Localization SuiteApp. |
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Lets you reconcile balance sheet accounts. It supports not only Accounts Payable and Accounts Receivable accounts but also other types of balance sheet accounts. |
Install the GL Matching SuiteApp. For more information, see Enabling Required Features for GL Matching and Installing the GL Matching SuiteApp. |
Taxation Features for Accounts Without SuiteTax
The following table describes taxation features for companies in the Netherlands. These features are for NetSuite accounts without SuiteTax. If you have SuiteTax enabled in your account, see Taxation Features for Accounts with SuiteTax.
Feature |
Description |
Prerequisites |
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Provides a list of tax codes that are needed to calculate VAT on transaction records, and generate Netherlands VAT reports. |
Enable the accounting features that you would like to use. For more details, see Enabling and Setting Up Taxation Features. Depending on your selection of features, you may need to install the following SuiteApps:
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Enables you to generate the Netherlands VAT report in Dutch, or English using the International Tax Reports SuiteApp. Shows how NetSuite uses the tax codes to get the values for the Netherlands VAT Return. |
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Enables you to handle the expenditures that are disallowed for VAT purposes. You can apply nondeductible tax on vendor bills, expense reports, checks, and vendor bill credits. |
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These are customizable saved reports that can be used in the Netherlands. |
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Enables you to generate the EU Sales List (ESL) report using the International Tax Reports SuiteApp. ESL is a report that prints EU sales for both services and goods. |
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Enables you to generate the Netherlands Intrastat Report for Arrivals and Dispatches in English, or Dutch, and export to ASCII format for upload to the tax agency website. |
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A feature of the International Tax Reports SuiteApp that automatically creates nexus and VAT/GST tax codes when you add a new subsidiary country. |
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EU Notional VAT (Reverse Charge VAT) |
For B2B sales and purchases, EU Notional VAT can be configured to reverse charges on goods and services within the European Union. |
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A feature of the International Tax Reports SuiteApp that automatically provisions OSS tax codes when you assign an OSS nexus to a subsidiary in NetSuite OneWorld. |
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Automatically provisions OSS tax codes for non-OneWorld NetSuite accounts. |
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Enables you to generate the XML Auditfile Financieel (XAF). You can also generate the XAF for a specific accounting book. |
Install the following SuiteApps:
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Taxation Features for Accounts with SuiteTax
The following table describes taxation features for companies in the Netherlands. These features are for NetSuite accounts that have the SuiteTax feature enabled. For more information, see Enabling the SuiteTax Feature.
Feature |
Description |
Prerequisites |
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Creates tax records when you select SuiteTax as your tax engine. SuiteTax enables you to use different tax engines per nexus. To begin provisioning your tax records, assign a tax registration to the subsidiary or company in SuiteTax. |
Install the following SuiteApps:
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Guides you through the process of updating tax codes for each nexus. This procedure is a best practice after the SuiteTax Engine automatically provisions tax codes. |
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Provides steps in setting up the compliance text in nexus preferences and invoice templates. This procedure is necessary to configure the language of the text, and enter the text itself, which is a required information for invoices where customers are liable for tax (sale is subject to reverse charge mechanism). |
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Enables you to generate the Netherlands VAT Return using the Periodic VAT Return OB69 report provided by the Netherlands Localization SuiteApp. For more information, see Generating Localized Country Tax Reports. |
In addition to installing the SuiteTax Engine SuiteApp and the SuiteTax Data Records Bundle, also install the following SuiteApps:
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EU Cross-Border Reports |
Enables you to generate the Netherlands Intrastat Arrivals, and Dispatches provided by the Netherlands Localization SuiteApp. For more information, see Netherlands Intrastat. |
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Enables you to generate the Netherlands EU Sales List using the template provided by the Netherlands Localization SuiteApp. |
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Enables you to generate the XML Auditfile Financieel (XAF). You can also generate the XAF for a specific accounting book. |
Payments
Feature |
Description |
Prerequisites |
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Provides information about the Electronic Bank Payments SuiteApp and its supported payment formats specific to Netherlands, including steps on setting up bank records for your company, partners, vendors, customers, and employees in Netherlands. |
Install the following:
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Provides information about how to transfer electronic bank payments data such as your entity bank details (vendors, employees, customers) to NetSuite. |
Banking
Feature |
Description |
Prerequisites |
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Manual bank reconciliation |
Lets you manually mark bank transactions as reconciled. For more information, see Reconciling Bank Statements. |
Assign the correct permissions for a role. For more information, see Permissions for Banking Features. |
Reconciliation based on online bank statement upload |
When bank data has been imported to NetSuite, you can match and reconcile transactions without the need for third-party tools. For more information, see Reconciling Bank and Credit Card Statements. |
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Reconciling your account statement from beginning to end by:
You have two options when using online banking:
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For more information, see the following topics:
For more information about these formats, see Bank Statement Parsers SuiteApp. |
Install the Bank Statement Parsers SuiteApp. For more information, see Installing the Bank Statement Parsers SuiteApp. |
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Install the Auto Bank Statement Import SuiteApp. For more information, see Installing Auto Bank Statement Import SuiteApp. Install the Bank Statement Parsers SuiteApp. For more information, see Installing the Bank Statement Parsers SuiteApp. |
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For more information, see Matching Bank Data. |
See Permissions for Banking Features for the proper permissions to use the Match Bank Data and Reconcile Account Statement pages. If you want to use these pages for an account, check the Use Match Bank Data and Reconcile Account Statement Pages box on the Edit Account page. For more information, see Editing an Account. |
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After matching the transactions, you can submit the matches and continue to the reconciliation process. For more information, see Submitting Matched or User-Cleared Transactions. |
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For more information, see Reconciling Transactions. |