1.16.14

Overview

We’re excited to announce several improvements to Latvia localization features in NetSuite. These updates are designed to help you stay compliant, save time, and improve reporting accuracy for Latvian VAT and related requirements.

Automatic Tax Point Date Logic

What’s New?

NetSuite can now automatically determines the Tax Point Date for your transactions, following Latvian VAT rules. This reduces manual work and ensures your VAT reporting is always accurate.

Benefits

• Ensures compliance with Latvian VAT rules

• Reduces manual effort and errors

• Provides flexibility with override and audit trail

• Supports accurate VAT reporting

How It Works

• Default Behavior:
  The Tax Point Date field is disabled by default and set automatically by the system when you save a transaction.

• Logic for Setting the Tax Point Date:

  1. If an advance payment is received before delivery/completion, the Tax Point Date is set to the Payment Date.

  2. If an invoice is issued within a configurable window (default: 15 days before or after delivery/completion), the Tax Point Date is set to the Invoice Date.

  3. If neither applies, the Tax Point Date is set to the Delivery/Completion Date.

• Override Option:
  If you need to set a different Tax Point Date, check the Override Tax Point Date box. This enables the field for editing and activates the Override Reason field (optional).
  If your override does not follow the standard logic, a warning message will appear. You can ignore the warning and save, or revise the date.

• User Actions:

  1. Identify which fields to use for Delivery Date, Payment Date, and Invoice Date.

  2. Set up the Latvia Localization Settings to specify these fields and configure the invoice window.

  3. Deploy the provided scripts to the relevant transaction records.

Smarter PVN Transaction Type Selection

What’s New?

NetSuite now intelligently selects the PVN transaction type for Latvia reports, using a step-by-step approach to find the best value for each transaction.

Benefits

• Less manual input - system auto-selects the best value

• Improved accuracy and consistency

• Smart fallback for small transactions

How It Works

When saving a transaction, NetSuite checks for the PVN transaction type in this order:

1. Line-Level Field: {custcol_sta_lv_txntype_pvn}

2. Tax Code-Level Field: {taxitem.custrecord_sta_lv_pvn_txntype} ^{new field}

3. Transaction Body Field: LV PVN Transaction Type custrecord_sta_lv_pvn_txntype {custbody_sta_lv_txntype_pvn}

4. Fallback: If no value is found and the total transaction amount is less than 150, the system sets the type to "T".

5. Otherwise: The field remains blank.

What to Do

• Display the New Latvia Localization Fields in your Custom Transaction Form

  • LV PVN Transaction Type custcol_sta_lv_txntype_pvn

  • LV PVN Transaction Type custbody_sta_lv_txntype_pvn

• Customized Saved Searches:

  • Review your custom saved searches for Latvia reporting.

  • Consider updating them to use this new logic.

  • Add the new tax code-level field to your saved searches if relevant.

Smarter PVN2 EU Transaction Type Selection

What’s New?

You now have more flexibility in selecting the EU Transaction Type for PVN2 reporting. NetSuite will automatically use the most specific value available.

Benefits

• More flexibility and control

• Less manual work

• Improved accuracy and compliance

How It Works

• New Fields:

  • On each transaction line: Select the EU Transaction Type for individual lines.

  • On each tax item: Set a default EU Transaction Type for each tax code.

  • On the transaction header: Use as a fallback if no other value is set.

• How NetSuite Picks the Value:
  When saving a transaction, NetSuite checks for the EU Transaction Type in this order:

  1. Transaction line field {custcol_sta_lv_txntype_pvn_eu}^{new field}

  2. Tax item field LV PVN EU Transaction Type {taxitem.custrecord_sta_lv_pvn2_eu_trantype}^{new field}

  3. Transaction header field {custbody_sta_lv_txntype_pvn_eu}

• What to Do:

  • Use the line-level field for different types on different lines.

  • Use the tax item field for a default per tax code.

  • Use the header field for a single value for the whole transaction.

• Custom Saved Searches:

  • Display the New Latvia Localization Fields in your Custom Transaction Form if not yet

    • LV PVN EU Transaction Type {custcol_sta_lv_txntype_pvn_eu}

    • [STA] LV PVN EU Tran Type {custbody_sta_lv_txntype_pvn_eu}

  • Customized Saved Searches:

    • Review your custom saved searches for Latvia reporting.

    • Consider updating them to use this new logic.

    • Add the new tax code-level field to your saved searches if relevant.

Default Source Saved Searches Set to "Grouped"

What’s New?

Saved searches used for Latvia localization PVN1 and PVN2 reports are now default to the "Grouped" view. This change makes it easier to analyze and summarize your data, especially for reporting and audit purposes.

Benefits

• Faster access to summarized data

• Improved usability for reporting

• Consistent experience across saved searches

What to Do

If you are using customized saved searches, this update will not be applied automatically. You will need to manually update your saved searches to use the "Grouped" setting if desired.

Both grouped and non-grouped source saved searches remain fully supported and can be used for the PVN11, PVN1II, PVN1III, and PVN2 reports.

PVN Annex Report: Decimal Formatting Fix

What’s New?

We’ve fixed an issue in the PVN annex XML output where numbers less than one were displayed without a leading zero (e.g., ".75" instead of "0.75"). Now, all decimal values include the leading zero for improved clarity and compliance.

Benefits

• Improved readability of PVN annex reports

• Ensures compliance with standard number formatting

• Reduces risk of misinterpretation in official filings

What to Do

No action is required—this fix is applied automatically to all new PVN annex XML outputs.

For questions or concerns, please contract support@staria.com.