NetSuite Financial User Study Guide Questions with 100% Correct Answers

Total number of subsidiaries in OneWorld Correct Answer 124 subsidiaries in addition to the root for 125 total Elimination Subsidiary Correct Answer -Sales between subsidiaries, Inventory transfers between subsidiaries, Loans between subsidiaries -Doesn't count towards subsidiary count -Cannot be a parent subsidiary -Only for journal entries, not for other transactions What should you do before creating subsidiaries? Correct Answer -Plan organization structure -Build in Sandbox account then in Production account (subsidiaries can't be deleted, and when inactive, it will still show in reports and report filters) The following values cannot be changed after creating a subsidiary Correct Answer Sub-Subsidiary of, Elimination, Currency, Edition, Country Classifications used to track records such as financials, transactions, and employees Correct Answer Departments and classes Primary classification in OneWorld Correct Answer -Subsidiaries -When using other classifications (departments, classes, locations), you must associate them with a subsidiary Departments Correct Answer -Listed first on transactions -Useful when designating transactions and employees as part of an internal team (i.e. Dept for each team of employees to track income/expenses) Classes Correct Answer Useful for wider segments within your business (i.e. New or repeat customers; sales order would indicate whether transaction was for new or repeat customer) Locations Correct Answer -Enable you to track information about employees and transactions for multiple offices or warehouses (i.e. Corporate office, sales offices, warehouses) -Up to 50 locations -Caution: do not use locations to identify areas in your warehouse such as a bin, shelf, or dock