Licenses, Transaction Locking, Tax Code, Time and Expense, Customized Subsidiary Records

Read the following sections to learn more about subsidiary licenses, locking transactions, tax code provisions, intercompany time and expense, and customized subsidiary records.

Subsidiary Licenses

Subsidiary licenses are sold on a per-country basis. You can create up to 249 subsidiary records, in addition to the root subsidiary, for a total of 250. License fees for subsidiaries do not include charges for elimination subsidiaries, and elimination subsidiaries do not count toward the maximum 250 subsidiaries. Inactive subsidiaries also do not count toward the maximum 250 subsidiaries.

Lock Transactions by Subsidiary

In certain countries, accounting regulations require you to lock transactions to prevent anyone from making changes to them. NetSuite provides the following two methods for locking transactions:

  • GL Impact Locking - This setting locks transactions where the general ledger impact of a transaction must be locked to the general ledger. For more information, see GL Impact Locking.

  • Transaction Locking SuiteApp (Bundle ID 8791) - This SuiteApp is available at no cost. Contact NetSuite Customer Support to request access to the Transaction Locking SuiteApp. For more information, see Transaction Locking SuiteApp.

Automatic Tax Code Provisioning

To benefit from the automatic tax code provisioning feature, you must first install the International Tax Reports in your account before you create subsidiaries. When you create a new subsidiary country, the system creates the nexus for it, as well as the VAT/GST tax codes for that nexus. If you create a subsidiary country before you install the SuiteApp, the system adds its nexus, but provides only a few default tax codes. For more information, see Automatic Tax Code Provisioning.

Intercompany Time and Expense

If you use Intercompany Time and Expense, an Intercompany Account is automatically associated with a subsidiary after qualifying transactions are created in the system. Qualifying transaction include a journal entry to eliminate Time and Expense.

The subsidiary’s base currency decides this account. It is used to offset the transfer of charges from intercompany time and expenses from this subsidiary to another. For more information, see Enabling Intercompany Time and Expenses and Intercompany Clearing Account.

Custom Fields and User Event Scripts

You can add custom fields and user event scripts to subsidiary records. You can add fields and business logic that are specific to the countries or regions in which your business operates. Go to Customization > Lists, Records, & Fields > Other Custom Fields. Select Subsidiary as the Record Type. Complete the fields as required and then save the custom field. For more information, see Creating a Custom Field.

Related Topics

Creating Subsidiary Records

General Notices