The Advanced Taxes feature lets you manage and calculate taxes for multiple nexuses within the same NetSuite account. This is done using tax schedules, which allow items to be taxed differently in each nexus in order to meet local business requirements. The Advanced Taxes feature also links tax control accounts to a nexus to manage tax postings more effectively in your ledger.
To turn on Advanced Taxes, follow these steps:
- Go to Setup > Company > Enable Features.
- Click on the Tax tab and select the Advanced Taxes option in the Tax & Compliance section.
- Click Save.