Hi, has anyone had experience with modifying the subsidiary structure in NetSuite? We recently acquired a company that was set up without a Holdco for a few months, I was looking at sticking the Holdco in, and shifting the operational company to under the Holdco (if that makes sense). There seems to be a lot of warning messages from NetSuite about the financial statements changing etc, Just wondering if anyone has any personal experience with this, and has any advice? Thanks in advance!

I have done this many times with no issues However I think the main concerns are around different currencies, tax registrations and existing Intercompany eliminations

Oh thats good news, no they're both the same currency, and also not VAT registered, so I assume that makes things easier. There are a few months of transactions in the one I want to change the parent company of, and then none in the new parent company.

Have you run the month end elimination process for this existing subsidiary yet?

No it won't have been, the elimination subsidiary was only set up today, so also has nothing in it.

Should be pretty straightforward just needs some testing with reports pre and post structure change. I have a colleague who has done it a few times. Can check his input on it.

make sure What change you’re making

Yes this seems to be a fairly easy change with low impact. Here are the steps I would take to do this. 1. Run/export Balance Sheet, Income Statement and Trial Balance per month for this subsidiary and the parent consolidated subsidiary. Store these locally before making changes. 2. Enable the setting to change the subsiidary hierarchy. 3. add your Hold Co. 4. change the existing subsidiary parent to be the new hold co subsidiary. 5. Add a new elimination subsidiary under the new Hold Co (Netsuite recommends at least 1 elimination subsidiary under each parent.) 6. add your new representing entities (or use the automation to do it). 7. Run the same financial reports as step 1 above and compare for variances

Thanks all, that was extremely helpful. I have just made the change in Sandbox and none of the financial statements seem to have moved. Do you think there is anything else I should be particularly aware of changing. Otherwise I think I am good to go!