minority interest set up

AI generated answer (using internal Slack threads):

Based on the conversations, setting up minority interest or partially owned subsidiaries in NetSuite is typically treated as a regular subsidiary. If there are any adjustments to be made, you can use the Adjustment Only book. When integrating a newly acquired company's financials, the decision to create a new subsidiary or a department is more of a legal/leadership decision than an accounting one. If the intent is to have the new company as an independent legal entity, then you should create a new subsidiary. If the intent is to shut down the other entity entirely and have everything under one legal entity, then you should have everything under one subsidiary. For providing a loan to a child subsidiary from the parent subsidiary, you can create appropriate journal entries to credit the account 'Due to XYZ sub' (all subs - other current liability) and to debit 'Loan from ABC sub' (all subs - other current asset). You can also create a memorized intercompany journal for the interest payment. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******