NetSuite contains a custom script which automatically calculates the GST rebate by province. This allows MakeWay to pass along GST Rebates to Funds and Projects immediately at the time the expense is recorded, rather than waiting for the rebate to be applied quarterly. The script removes a lot of manual work that had to be done by Accounts Payable in NAV to record the GST rebate.

This script is designed to calculate the rebatable portion of GST or HST charged on an invoice.
When an invoice is entered manually, that has GST/HST charged, the GST/HST is entered on a separate line, coded to the Expense Account, and tagged with the Jurisdiction (Province/Territory of purchase) and the tax code CA-E. In addition, the “Run Suite G/L” box must be checked as TRUE.

The GST script and fund script will fire automatically for transactions entered directly into NetSuite assuming all of the criteria is met. The GST script is set to run every 2 hours on imported transactions (i.e. Concur / CSV imports)

When “British Columbia” is selected on a tax line marked as CA-E, this identifies the $5.00 as BC-charged GST – which is the 5% rate. The Rebatable portion of the tax in this case is 50% = $2.50. Once the transaction is saved, the script will run to move $2.50 from account 64100 to the “GST / HST Rebate Receivable” account. 

IMPORTANT: In order for the GST rebate calculations to run the box “RUN SUITE G/L” MUST be checked. Also, at least one tax line must be entered on the invoice, with the appropriate jurisdiction and tax code (CA-E) filled out – this is required for the script to be able to lookup the rebate percentage.