Netsuite financial - Study guides, Class notes & Summaries

NetSuite Financial User Certification Exam Questions and Answers Rated A+ Subsidiary - ANSWER ️️ separate legal entity 125 - ANSWER ️️ max number of subs (new) elimination subsidiary - ANSWER ️️ where you balance out consolidation Yes - ANSWER ️️ Can different subsidiaries have different fiscal calendars? No - ANSWER ️️ Can subsidiaries be deleted after they have been created Department - ANSWER ️️ Usually assigned to teams 50 - ANSWER ️️ max # of locations al...

Total number of subsidiaries in OneWorld : 124 subsidiaries in addition to the root for 125 total Elimination Subsidiary : -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? : -Plan organization structure -Build in Sandbox account then in Production account (subsidia...

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separate legal entity : Subsidiary max number of subs (new) : 125 where you balance out consolidation : elimination subsidiary Can different subsidiaries have different fiscal calendars? : Yes Can subsidiaries be deleted after they have been created : No Usually assigned to teams 2 | P a g e : Department max # of locations allowed : 50 Balance Sheet, Income Statement, Statement of Cash Flows : 3 types of financial statements How does NS group/categorize accounts? : Account Typ...

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 accoun...

NetSuite Financial User Study Guide Questions and answers, 100% Accurate. VERIFIED. Total number of subsidiaries in OneWorld - -124 subsidiaries in addition to the root for 125 total Elimination Subsidiary - --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? - ...

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Subsidiary - Answer-separate legal entity 125 - Answer-max number of subs (new) elimination subsidiary - Answer-where you balance out consolidation Yes - Answer-Can different subsidiaries have different fiscal calendars? No - Answer-Can subsidiaries be deleted after they have been created Department - Answer-Usually assigned to teams 50 - Answer-max # of locations allowed 3 types of financial statements - Answer-Balance Sheet, Income Statement, Statement of Cash Flows Account Type - Answ...

Subsidiary - Answer separate legal entity Elimination subsidiary - Answer Nets out income/expense entries between subs; keeps the books accurate (only JE's, no transactions) Number of total subsidiaries? (max) - Answer 75 (elimination does not count) How do subsidiaries act in consolidated reports? - Answer They roll up to the parent Subsidiary Best Practice - Answer Diagram and hierarchy of the parent-child relationships before actually creating them. Always build in sand...

NetSuite Financial User Certification Exam Questions and Answers 2023