How to Create Parent Company in Netsuite for first time
How to Create Parent Company in Netsuite for first time
because there is option of creating subsidiary where we need to assign parent subsidiary mandatorily
so where to create Parent subsidiary
Creating a parent company in NetSuite requires a specific permission, “Allow Subsidiary Hierarchy to be Modified.” This permission is typically granted to administrators to enable them to modify the company structure. Once you have the necessary permission, follow these steps to create a parent company:
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Enable the “Allow Subsidiary Hierarchy to be Modified” permission:
- Navigate to Setup > Company > General Preferences.
- Locate the “Allow Subsidiary Hierarchy to be Modified” field.
- Check the box next to this field.
- Set a date in the “Last Day of Modification Period” field. This date determines the timeframe for modifying the subsidiary hierarchy.
- Click Save.
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Create a new subsidiary record:
- Go to Setup > Company > Subsidiaries > New.
- Enter the name of the subsidiary in the “Name” field.
- Leave the “Parent Subsidiary” field blank.
- Complete any other relevant information on the Subsidiary record.
- Click Save.
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Create the parent company record:
- Repeat steps 2 and 3, but this time, enter the name of the parent company in the “Name” field.
- For the “Parent Subsidiary” field, select the newly created subsidiary record you created in step 2.
- Complete any other relevant information on the Parent Company record.
- Click Save.
By following these steps, you will have successfully created a parent company in NetSuite. Remember to save the “General Preferences” changes before creating the subsidiary and parent company records.
