Does anyone use multiple calendar feature? We need...
# administrationc
Chris
08/30/2022, 2:14 PMDoes anyone use multiple calendar feature? We need to enable it for a new subsidiary with a different fiscal year. I tested it in sandbox and it seems pretty straight forward, but we are worried there may be something we are not thinking of that won't make itself known until year end.
Chris
08/30/2022, 2:14 PMHowever based on the sandbox it seems like it does a good job keeping everything seperate
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Karina
08/30/2022, 4:18 PMYes, it is all about how retained earnings rolll up
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Chris
08/30/2022, 4:30 PMI believe they would want to RE to rollup in March. Does NS not handle this automatically?
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michoel
08/31/2022, 2:16 AMWe will be going live with our first international subsidiary in September using multi-calendar so hoping for no issues 🙏 Our accountants did pretty rigorous testing and were happy with how it worked, and it seems easy enough to change the fiscal calendars at any point.
michoel
08/31/2022, 2:18 AMThe only issue we encountered was for some reason for the other fiscal calendars, our tax periods were all "orphaned" (i.e. we had the months, but no quarters or years set up). I suspect this was due to some botch up at our original go-live. We just needed to go through and create all the periods manually.
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Karina
08/31/2022, 4:53 PM@Chris - sure NS rolls it up, that’s what the secondary calendar is for. but for India in April there is only one month of Net Income and in March there are 12 months of it. It looks a bit funky, and not every controller likes it this way
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Chris
09/01/2022, 2:48 PM@Karina ok thank you. I'll have to run it by the controller and see what they think.
@michoel Was this your first international subsidiary or the first one using multi-calendar? We already have international subs but this will be the first one using a different fiscal calendar and we aren't sure how robust the testing needs to be. It seems like Netsuite handles it pretty well so we are telling the accounting team to create some entries, check reports, close a period but we aren't sure how extensive it needs to be.
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michoel
09/01/2022, 10:32 PM@Chris first international sub. I think our testing was pretty much what you described above. There was lots of confusion at first if we needed multi-book or not but we concluded it wasn't required.
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