How to create a discount in NetSuite SuiteTax

This article is for NetSuite SuiteTax users only. If you have NetSuite Legacy Tax, read this article for help with creating discounts.

Creating a Sovos customization element

Before creating a discount item, you must create a Sovos customization element with the following details:

• Sovos Field ID: Sovos discount type (see step 5 of the next section for a list of discount types)
• NetSuite Field Level: Item 
• NetSuite Field ID: The name of the field in the discount item that has the discount type

Creating a discount item

Once the customization element has been created, create a discount in NetSuite to be able to apply it to a transaction:

1. Go to Lists > Accounting > Items > New.
2. In the Item Type column, select Discount.
   
   
   
   
3. In the Item Name/Number field, enter a name for the discount.
4. In the Rate field, enter the dollar amount or percentage that will be discounted from the transaction.
   Note: Rates should be positive values. If the Rate field has a negative value, you’ll get an error when applying the discount to a transaction.
5. In the Display Name/Code field, enter the number of the discount type:
   1. Discount
   2. Prompt Payment Discounts
   3. Quantity Discounts
   4. Retailer Coupon
   5. Manufacturer Coupon
   6. Rebates
   7. Trade-Ins
   8. Reward Program/Retailer Coupons
   9. Reward Program/Manufacturer Promotions
   10. Reward Program/Credit Card Company
   11. Gift Voucher
   
   
   
   
6. On the Accounting tab, select an account from the dropdown menu.
7. Click Save.