What are all the things that need to be considered when adding a new Subsidiary to a NetSuite account?

AI generated answer (using internal Slack threads):

When adding a new Subsidiary to a NetSuite account, there are several considerations to keep in mind: 1. Subsidiary Hierarchy: Once a subsidiary hierarchy is created, it cannot be changed. Therefore, it's important to plan the structure carefully before creating subsidiaries. 2. Base Currency and Country: The base currency and country of a subsidiary cannot be changed once set. This should be decided carefully as it impacts financial reporting and transactions. 3. Future Expansion: If there are plans for future expansions or acquisitions, it might be beneficial to set up a parent subsidiary to allow for easier consolidation and intercompany transactions. 4. Subsidiary Restructuring: There is a tool in NetSuite for rearranging subsidiaries, but it comes with risks and should be used with caution. It's advisable to test this in a sandbox environment before implementing it in a live account. 5. Visibility: If a parent subsidiary is created, roles and employees can be modified so that they only see the child subsidiary, making it seem as if the parent doesn't exist. 6. Adding New Subsidiaries: New subsidiaries can be added anywhere in the hierarchy, but this should be done carefully and tested thoroughly to avoid disrupting the existing structure. Remember, these considerations are based on general best practices and may vary depending on the specific needs and circumstances of your organization. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******