Set up NetSuite OneWorld

You must complete the following steps to set up NetSuite OneWorld.

Ensure that you have a thorough understanding of how subsidiaries, including elimination subsidiaries are organized in OneWorld. See Subsidiaries in OneWorld and Elimination Subsidiaries.
Plan your subsidiary hierarchy and create a visual representation of this structure. See Subsidiary Hierarchy Planning.
Ensure that currencies to be used by subsidiaries are set up in your account.

For an overview of how OneWorld uses multiple currencies, see Multiple Currencies in OneWorld.

For details about setting up currencies and exchange rates, see Creating Currency Records and Currency Exchange Rates.
Ensure that tax jurisdictions (nexuses) to be used by subsidiaries and related tax items are set up in your account.
- For an overview of how OneWorld uses nexuses, see Nexuses and Taxes in OneWorld.
- For details about setting up taxes, see Enabling and Setting Up Taxation Features.
Create subsidiary records. Start from the top-level or root subsidiary, and work your way down through child and grandchild subsidiaries.
- You can create subsidiaries representing both legal entities and elimination subsidiaries. For instructions, see Creating Subsidiary Records.
- After you save each subsidiary record, you can edit its nexuses and set preferences, as needed. See Editing Subsidiary Records.
- You can delete a subsidiary if there are no associated transactions or records. See Deleting Subsidiary Records.
Complete the following, as needed: