Oracle NetSuite FAQ

Does our NetSuite integration support OneWorld?

Yes.

What is NetSuite OneWorld?

NetSuite OneWorld supports global, multi-subsidiary organizations. Audit Sight handles the synchronization of OneWorld licenses in the same manner as any other integration.

• NetSuite OneWorld supports global, multi-subsidiary organizations.
• OneWorld organizes both domestic and international subsidiaries into a single hierarchical structure.
• Each subsidiary is treated as a unique legal entity for taxation and regulation purposes.
• Each subsidiary has a specific nexus (tax jurisdiction) and a specific base currency. This base currency is the currency in which the subsidiary manages its financials. Subsidiary-specific data is available for reporting. Currently Audit Sight only supports entities where the base currency is USD.

How are subsidiaries handled in Audit Sight?

Audit Sight maintains a one to many relationship between an entity/subsidiary and Client. This will allow for multiple subsidiaries and accounting connections to be linked to a single client. 

In order for you to get the full picture of a company that owns multiple legal entities, your client will need to go through a separate linking process for each legal entity that exists in the accounting package.

🚧 Elimination subsidiaries

Elimination subsidiaries in Netsuite are used to record only journal entries and transactions between subsidiaries for consolidation purposes. This information is available on the non-elimination subsidiaries, so Audit Sight won’t fetch elimination subsidiaries.