what are the requisites to setting up a new subsidiary in a manufacturing premium edition of netsuite? do cash accounts need to be assigned to each subsidiary separately?

AI generated answer (using internal Slack threads):

To set up a new subsidiary in a Manufacturing Premium Edition of NetSuite, you would need to follow these steps: 1. Navigate to Setup > Company > Subsidiaries > New. 2. Fill in the necessary details such as Name, External ID, Subsidiary of, etc. 3. Set the Currency, Country, and Time Zone. 4. Fill in the Address details. 5. Set the Tax details. 6. Set the Accounting details such as Fiscal Calendar, Accounting Book, etc. 7. Set the General Preferences such as Language, Shipping items, etc. 8. Save the new subsidiary. As for cash accounts, they need to be assigned to each subsidiary separately. This is because each subsidiary in NetSuite is considered a separate legal entity with its own balance sheet, bank accounts, etc. If one subsidiary sends money to another, then one subsidiary becomes indebted to another. Therefore, it's necessary to maintain separate cash accounts for each subsidiary to ensure accurate tracking and reporting of financial transactions. For more detailed information, you can refer to the NetSuite OneWorld User's Guide, specifically the section on setting up subsidiaries and intercompany transactions. Here is the link: https://docs.oracle.com/en/cloud/saas/netsuite/ns-online-help/section_N266701.html ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******