Brazil Localization Enhancements in NetSuite 2023.2

Starting in NetSuite 2023.2, several enhancements have been made to the Brazil Localization features, aimed at improving compliance and operational efficiency for businesses operating in Brazil. The key changes are designed to streamline order management processes and ensure adherence to local regulations.

Key Enhancements

Cash Sales with SAT Cash Receipts

NetSuite now supports cash sales using the SAT (Sistema Autenticador e Transmissor) cash receipts system. This enhancement allows businesses in Brazil to capture cash sales more effectively, ensuring that businesses can provide valid invoices for receipts.

E-Document Number Voiding

This feature facilitates the voiding of electronic document numbers, providing an efficient way to manage inaccuracies or errors in electronic invoices. Businesses can now easily cancel incorrectly issued documents, aligning with Brazilian accounting standards.

Fine and Interest Charges on Purchases

NetSuite 2023.2 introduces functionality to manage fine and interest charges applied to purchases, which is critical for organizations that need to adhere to Brazilian fiscal regulations. This helps maintain accurate financial records and improves overall financial reporting.

GNRE Tax Collection Forms

The inclusion of GNRE (Guia Nacional de Recolhimento de Tributos Estaduais) forms streamlines the process for tax collection in several states throughout Brazil. Businesses can easily generate and manage related tax documentation, ensuring compliance with local tax laws.

Inventory Ownership and Custody for Locations in Brazil

With this update, businesses can now manage inventory ownership status and custody specifically for their Brazilian locations. This enhancement allows for better tracking of inventory ownership and compliance with Brazilian legal requirements.

Localized Intercompany Transfers

NetSuite enhances its capabilities for intercompany transactions with localized support for Brazilian businesses. This feature simplifies the management of transfers between subsidiaries, ensuring compliance and accuracy in cross-company financial reporting.

Removal of Installments from CNAB Delivery Files

The system now excludes installment information from CNAB (Centro Nacional de Análise de Balancetes) delivery files, streamlining the reporting process. This helps in aligning with the latest banking requirements and simplifies file management for users.

Who This Affects

Administrators: Configuration changes to maintain compliance with Brazilian regulations.
Accountants: Enhanced financial reporting and tax compliance features for transactions in Brazil.
Developers: Opportunities to utilize new features in customizations and integrations.

Key Takeaways

Introducing enhancements for Brazil Localization in NetSuite 2023.2.
Key features include support for SAT receipts and GNRE forms.
Improvements in managing fines, interest charges, and electronic document voiding.
Focus on inventory ownership and intercompany transfer processes.
Ensures better compliance with local regulations in Brazil.