Add new Subsidiary

Jira Code: SMT-2

Description: Add a new subsidiary

You should create subsidiary records in a top-down fashion. Begin with the root subsidiary, then all of its child subsidiaries, then the next level of subsidiaries, and so on. This order is recommended because you must define the parent for each child subsidiary in the Subsidiary of a field on the subsidiary record.

Be aware that the following values cannot be changed after you have saved a subsidiary record:

• Subsubsidiary of (the parent subsidiary)
• Elimination
• Currency
• Edition
• Country

To create a subsidiary record:

1. Go to Setup > Company > Classifications > Subsidiaries > New.
2. Complete the following header information:
   1. Check the Subsidiary is Inactive box if this subsidiary is no longer active or used in your account.Inactivated subsidiaries no longer show in the Subsidiary field on records and transactions unless they are currently attached to a record. Websites of inactive subsidiaries are no longer available online.
   2. Enter up to 83 alphanumeric characters for the name of the subsidiary.
   3. Select the parent subsidiary in the Subsubsidiary of field.This value cannot be changed after you save the subsidiary record.
   4. Check the Always Display Subsidiary Name box to display only the subsidiary name with your role in the upper right corner of a page. In addition, when logging in to an external account, such as an employee center, vendor center, or customer center, the dashboard displays only the logo of the subsidiary, not the parent company logo.
   5. In the Subsidiary Logo (Forms) field, select the logo image to be used on all forms by this subsidiary.Click New to upload a logo. Logos must be in JPG or GIF format.
   6. Enter the URL of this subsidiary’s website.
   7. Select the state or province, and country.
   8. Enter the legal name of this subsidiary as it appears on tax documents.
   9. Enter a return email address.
   10. Enter a fax number.
   11. Check the Elimination box if this subsidiary record is to be used for only intercompany journal entries that reverse transactions between subsidiaries.This value cannot be changed after you save the subsidiary record.
   12. If this subsidiary uses multiple languages, select the default language for NetSuite users in this subsidiary.
   13. If this subsidiary uses multiple calendars, select the calendars to roll up accounting and tax periods.The fiscal calendar determines the start date for the accounting year.The tax fiscal calendar determines the start date for the tax year.
   14. Select the base currency used by this subsidiary.

3.Fill up the required fields and optional fields if needed and click Save.

After you have saved a subsidiary record for the first time, you can return to the record to edit most of the fields you defined as well as additional fields on Shipping Address, Return Address, Nexuses, Preferences, Translation, and System Notes subtabs.

If the Intercompany Time and Expense feature is enabled in your account, an Intercompany account is automatically associated with a subsidiary after qualifying transactions are created in the system such as a journal to eliminate Time and Expense. This account is determined by the subsidiary’s base currency.