Hello, does anyone have a presence in India? With the local India audit requirements, there's an ask from the auditors to store financial data physically on a server in India and backed up on a daily basis. Will a simple download of P&L / Balance sheet be sufficient on a daily basis?
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PWN
11/02/2023, 8:51 PM
Usually these requirements are quite overstated - e.g. Norway has same but needs no additional back-ups (they do have a special SAF-T file though.) Are you using the Inspirra bundle? I guess you can pose the question to Oracle if you were migrated to OCI already,. I think it is almost certain a back-up exists in a data center in India. I have only seen implementations in India using the Inspirra bundle but never had that issue across a substantial number of customers.
PWN
11/02/2023, 8:54 PM
Whether P&L / Balance sheet is sufficient you need to ask the auditors about but I would think it would not stop there if they are supposed to be able to audit the local copy, then it needs to be G/L etc. as well for sure.
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Ramkumar Jeyaraman
11/03/2023, 3:32 AM
Our company DataCaliper has a presence in India. To answer your question, NetSuite migrated to OCI infrastructure that is supported from Oracle's data center in the Phoenix, Ashburn, Virginia, Frankfurt and London cloud regions. If an APAC cloud region for India is offered in the future, you can change NetSuite's underlying cloud region and begin storing information. Until then your best option is to backup the data and store it locally.
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Westley Chan
11/03/2023, 5:29 AM
Thanks, I think we are on OCI, but it does not list India as a data center unfortunately.
Westley Chan
11/03/2023, 5:25 PM
This is from Netsuite's collateral on DataCenter locations
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PWN
11/03/2023, 6:59 PM
Hmm, ok - well as mentioned across several larger clients I have not had this come up specifically for India but they were all using inspirria bundle. I think the issue with such local requirements are additional asks for special types of reports, formats etc. The countries using system exports on demand for audit purposes with statutory formats (Norway, Poland e.g.) have exports that basically exports the whole account, incl. mappings to localized chart of accoutns and similar. I still think you should pose this question to Netsuite support, it cant be the first time they heard about it I guess. If you must set up exports please ask the auditors to be extremely specific on what they need.