What’s enhanced
Track Marketplace sales tax in a specific NetSuite G/L account
You can now track Marketplace sales tax collected and remitted by marketplaces such as Shop directly in a designated NetSuite G/L account.
A new setting, “NetSuite account to track Marketplace sales tax”, is available under Settings > Payout. This setting allows you to select a specific NetSuite G/L account to automatically record Marketplace sales tax amounts identified by the integration.
This enhancement ensures:
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Accurate financial reporting by clearly separating taxes already remitted by marketplaces.
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Prevention of duplicate tax payments.
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Simplified reconciliation and improved visibility into Marketplace tax activity.
If you don’t configure this setting, the transactions will continue to post to the Variance account, as they did previously.