Oracle NetSuite FAQ

Does our NetSuite integration support OneWorld?

Yes.

What is NetSuite OneWorld?

NetSuite OneWorld supports global, multi-subsidiary organizations. Codat handles the synchronization of OneWorld licenses in the same manner as described above.

  • 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.

Here's an example hierarchy in Netsuite:

That same hierarchy would be 5 different companies on the Codat platform.
Company 1: Codat Limited
Company 2: Codat Europe
Company 3: Codat France
Company 4: Codat Germany
Company 5: Codat | London

How are subsidiaries handled in Codat?

Codat maintains a 1 to 1 relationship between an entity/subsidiary and a Codat company. The linking process will result in the data of each individual entity/subsidiary being synchronized to a separate and distinct Codat company.

In order for a client to get the full picture of a company that owns multiple legal entities, its customers 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 Codat won’t fetch elimination subsidiaries.


Did this page help you?