Does anyone have a shortlist of q’s to decide how to integrate a newly acquired company’s financials? e.g. how do you decide whether it’s more appropriate to create a new sub, or to create a department for instance? so far, most of my experience lends itself to saying it’s based on materiality. but curious what others have experienced.

Assuming adding a new sub doesn't incur the cost of a new country, absolutely a new sub. It's a huge PITA to go back and try and pull out data stored in Dept or Class and move it into its own sub if you decide later you want it there. Especially if this sub is going to continue operations, ie you're going to continue to record transactions for this newly acquired company. If it does incur a cost, then it's a little murkier. I'd probably gravitate towards paying the money and doing it unless it's extremely immaterial and there are no expected transactions going forward. Having to buy a new country implies there would be FX stuff you'd have to deal with outside the system if you don't set up a new sub. Can't really do FX stuff or consolidation within a Dept or Class unless it's a subsidiary that's no longer operating and you just toss in the pre-consolidated numbers and don't care about unconsolidated numbers.

@RJMNS - agreed - my concern about using a dept/class is mostly centered around reporting. thanks so much for sharing your experience!