What kind of problems we will get into if we will start creating separate departments for other subsidiaries with same name and what is the best practice

AI generated answer (using internal Slack threads):

****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ****** Creating separate departments for other subsidiaries with the same name can lead to several issues. In NetSuite OneWorld, departments are shared between subsidiaries, similar to how the chart of accounts is shared. When you create departments, you decide which subsidiaries can use them. If you attempt to create the same department for each subsidiary, you will encounter an error message indicating that the name already exists. The best practice is to create the department once and then assign it to the appropriate subsidiaries. This approach avoids duplication and the associated error messages. It's the same logic for accounts, classes, locations, and more. When integrating a newly acquired company's financials, the decision to create a new subsidiary or a department depends on several factors. If the acquired company is to be an independent legal entity, it should be accounted for as a separate subsidiary. If the intent is to integrate the company entirely under one legal entity, then it should be under one subsidiary. For partially owned subsidiaries, NetSuite treats them as a regular subsidiary. If you need to remove something, you can use the Adjustment Only book. Remember, these decisions often involve legal and leadership considerations, not just accounting ones. It's also advisable to avoid major changes at the start of the year when resources might be stretched due to holidays and year-end activities.