Hi, I have a subsidiary question having a hard tim...
# accountingh
Hunter
07/21/2023, 4:47 PMHi, I have a subsidiary question having a hard time finding a good solution/answer to. We need to set up a subsidiary that does not roll up to the consolidated parent subsidiary for reporting purposes. Does anyone know if it's possible to do this? My thought was initially can we just create a second parent subsidiary but I'm not seeing that as being possible. Any advice would be appreciated on this one!
k
kennkerp
07/21/2023, 7:20 PMYou'll want to create a new "Ghost Parent" that is the top level subsidiary in the org. Then that "Ghost Parent" will have two child subs - The currently existing Parent and the new Subsidiary you have created. For your purposes, it sounds like you'll never need to report at the Consolidated "Parent" level, but it will exist for you nonetheless. You'll just have the two separate child entities operating side by side, rolling up to the Ghost parent (you can call it whatever you want) that never gets used and exists only because NetSuite allows only one top level subsidiary.
kennkerp
07/21/2023, 7:23 PMYou will need to set the "Allow Subsidiary Hierarchy To Be Modified" value in your General Preferences in order to allow for you to assign the current parent as a child of the new parent. I suggest doing this all in Sandbox first, and if your subsidiaries operate in multiple base currencies, there may be consolidated exchange rate implications as well to this.
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Hunter
07/24/2023, 3:15 PMThank you very much for the information and suggestions!
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