How do you set up a new subsidiary and adjustment books?

AI generated answer (using internal Slack threads):

To set up a new subsidiary in NetSuite, follow these steps: 1. Navigate to Setup > Company > Subsidiaries. 2. Click New. 3. Fill in the necessary fields such as Name, External ID, Subsidiary of, etc. 4. Click Save. For setting up Adjustment Books, you can follow these steps: 1. Navigate to Setup > Accounting > Manage Accounting Periods. 2. Click New Adjustment Book. 3. Fill in the necessary fields such as Book Name, Subsidiary, etc. 4. Click Save. Remember, when setting up partially owned subsidiaries, NetSuite treats them as a subsidiary period. You can use the Adjustment Only book if you need to remove something. For the scenario where a business is acquired halfway through a period, you can enter reversal entries in a consolidation entry that the parent owns. The acquired subsidiary's books don't change unless you're enforcing a year-end change. For setting up taxes on a subsidiary, it depends on the country/state of the subsidiary and whether you're using SuiteTax or Advanced Taxes. There are many help topics available on SuiteAnswers regarding Setting Up Taxes in specific countries or for OneWorld accounts. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******