Adding a New Subsidiary to an Active Book

Note:

Please contact your sales or account representative to find out how to get the Full Multi-Book Accounting feature. The assistance of NetSuite Professional Services or a Multi-Book authorized partner is required to implement this feature. You should consider contacting NetSuite Professional Services or a Multi-Book authorized partner for assistance in setting up the Adjustment-Only Books feature, even though it is not required.

Important:

Multi-Book Accounting, including the Adjustment-Only Books feature, is available only in NetSuite OneWorld.

When Full Multi-Book Accounting is enabled, new subsidiaries are automatically saved as inactive. This enables you to add new subsidiaries after secondary accounting books have been added and activated. You cannot add an active subsidiary to an active accounting book.

Check the Show Inactives box on the Subsidiaries list to display newly created inactive subsidiaries.

When Foreign Currency Management is enabled, a subsidiary’s base currency must be defined in all applicable active accounting books. This is a prerequisite for activating the book.

To add a new subsidiary to an active accounting book:

1. Go to Setup > Company > Classifications > Subsidiaries > New and create the new subsidiary record. For more information, see Creating Subsidiary Records.

   New subsidiaries automatically have the same accounting books as the subsidiary selected in the Subsubsidiary of list.

2. Go to Setup > Accounting > Multi-Book Accounting > Accounting Books.

3. Click Edit for the accounting book to which you want to add the subsidiary.

4. In the Subsidiary list, select the new subsidiary, and click Save.

5. If Foreign Currency Management is enabled, set the base currency.

6. Repeat steps 3 – 5, as needed.

7. Go to Setup > Company > Subsidiaries, and edit the new subsidiary record.

8. Clear the Subsidiary is Inactive box, and click Save.

To add an existing active subsidiary without transactions to an active accounting book, edit the subsidiary record and check the Subsidiary is Inactive box. Then follow the same procedure as for new subsidiaries.

Related Topics:

• Planning for Multi-Book Accounting
• Enabling Multi-Book Accounting Features
• Adding Accounting Books
• Roles and Data Access for Multi-Book Accounting
• Restricting Role Access to Accounting Books
• Chart of Accounts Mapping
• Accounting Book Period Close Management
• Foreign Currency Management
• Revenue and Expense Management
• Reports, KPIs, and Saved Searches in Multi-Book Accounting
• Book-Generic and Book-Specific Records
• Using Multi-Book Accounting

General Notices