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description: Bloom & Grow Group-HK-NS
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Subsidiary Creation

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Subsidiaries in OneWorld

NetSuite OneWorld enables you to manage data for a hierarchical structure of separate legal entities (subsidiaries). This structure is organized as a tree that rolls up to a root, or top-level parent subsidiary. The root subsidiary is the highest-level subsidiary in your account, and all other subsidiaries are below it in the hierarchy.

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Example of subsidiary structure:

Subsidiary licenses are sold on a per-country and currency combination. You can have 250 subsidiaries in your OneWorld account, including the root subsidiary. If you require more than 250 subsidiaries, contact your NetSuite account representative for pricing information.

Each subsidiary represents a separate company within your global organization.

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Creating Subsidiary Records

We 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 best practice because you must define the parent for each child subsidiary when you create the subsidiary record.

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To create a subsidiary record:

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In Administrator role,

1. Go to Setup > Company > Classifications > Subsidiaries > New.

2. Complete the following header information:

 Check the Subsidiary is Inactive box if this subsidiary is no longer active or used in your account.

o 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.

Enter up to 83 alphanumeric characters for the name of the subsidiary.
Select the parent subsidiary in the Subsubsidiary of field.
Check the Always Display Subsidiary Name box to display only the subsidiary name with your role in the upper right corner of a page. When you log in to an external account, the dashboard displays only the logo of the subsidiary, not the parent company logo. External accounts include the employee center, vendor center, or customer center.

o Clear this box to display both the parent and the subsidiary name in your account.

In the Subsidiary Logo (Forms) field, select the logo image to use on all forms by this subsidiary.

o Click New to upload a logo. Logos must be in JPG or GIF format.

In the Subsidiary Logo (Pages) field, select the logo image to display on all pages for this subsidiary.

o Click New to upload a logo. Logos must be in JPG or GIF format.

Enter the URL of this subsidiary's website.
If you use autogenerated numbering and you also want to use subsidiary-specific numbering for documents, enter a prefix to identify this subsidiary in document numbers. You can enter up to 8 alphanumeric characters.
Select the state or province, and country.
Enter the legal name of this subsidiary, as it appears on tax documents.
Enter a return email address. You can specify that email forms generated in NetSuite are sent using this email address. This is useful when you have many subsidiaries and you want customers or vendors to reply using an email address from the appropriate subsidiary.
Enter a fax number.
Check the Elimination box if this subsidiary record is used for only intercompany journal entries that reverse transactions between subsidiaries.
If this subsidiary uses multiple languages, select the default language for NetSuite users in this subsidiary.
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.
Select the base currency used by this subsidiary.

o This value can be the same as or different from the base currency of the parent. o Elimination subsidiaries default to the base currency of the parent subsidiary.

Enter the appropriate tax identification numbers for this subsidiary. The fields that display depend on the country entered for the address.
Click Edit next to the Address field. Complete the fields, as required, and then click OK.

3. Click Save

{% hint style="info" %}
NOTE: Saving a new subsidiary requires system processing that can be time consuming. Do not refresh the page during save. Doing so may stop the save process and display multiple error messages.
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Editing Subsidiary Records

After you save a subsidiary record for the first time, you can edit some of the values you entered for it. In edit mode, additional subtabs are available for you to do the following:

Define the shipping label and return addresses

Add or remove tax nexuses associated with the subsidiary

Set the subsidiary preferences
Define alternate subsidiary names to display in other languages
View the date and time fields were modified and by whom

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To edit a subsidiary record:

•Go to Setup > Company > Classifications > Subsidiaries.
Click the Edit link next to a subsidiary.
Edit the main fields as required.
To define the subsidiary’s shipping label and return addresses, click the Addresses subtab. Then, click the Edit links next to the Shipping Address and Return Address fields.
When you complete these address fields, the system uses these addresses rather than the shipping and return addresses defined in company information
To view changes made to this record, click the System Notes subtab.

Click Save.

{% hint style="info" %}
Notes: In Chart of Accounts, if Parent Subsidiary is selected and include children box is Checked, the newly created subsidiary will be automatically selected in Chart of Accounts.
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