Per Subsidiary Accounting Period Locking

When will we use the feature: Per Subsidiary Accounting Period Locking?

Month-end financial closing across multiple subsidiaries

 

Which roles will use the feature: Per Subsidiary Accounting Period Locking?

Controllers and Administrators

 

What permission should be granted to a user to be able to use the feature: Per Subsidiary Accounting Period Locking?

Manage Accounting Period = Full under Setup> Users/Roles> Manage Roles> edit role>Permissions tab > Setup subtab

 

Will all users with permissions: Manage Accounting Period = Full be able to use feature: Per Subsidiary Accounting Period Locking for all subsidiaries?

Users will be able to use this feature only on subsidiaries they were provided access to.

 

In using feature: Per Subsidiary Accounting Period Locking, will we be able to see all subsidiaries when locking an accounting period module?

Only active subsidiaries will be available when using the feature: Per Subsidiary Accounting Period Locking.

 

Will ordinary users who do not have permission to Manage Accounting Period = Full be able to enter information when we use feature: Per Subsidiary Accounting Period Locking and lock all the accounting period modules for the period?

Users will need the Override Period Restrictions permission to be able to enter information in locked periods.

 

What feature do we need to enable to be able to use feature: Per Subsidiary Accounting Period Locking?

This feature is automatically enabled for all OneWorld accounts

 

If we lock the parent subsidiary will it lock the child subsidiary/subsidiaries in feature: Per Subsidiary Accounting Period Locking?

Locking is now done per subsidiary

 

What is the padlock icon for on the left of the a subsidiary when we lock an accounting module in feature: Per Subsidiary Accounting Period Locking?

The padlock icon indicates that the subsidiary on the right side of it has already been locked.

 

What is the clock icon for in the Manage Accounting Periods page?

This indicates that we have started closing subsidiaries in that accounting period module.

 

What is the unlock icon for in the Manage Accounting Periods page?

This indicates that we have not performed any changes or started closing subsidiaries in that accounting period module.

What does the green circle with three dots icon represent in the Manage Accounting Periods page > Period Close Checklist?

This indicates that a task is In Progress. In terms of the Lock A/R, Lock A/P, and Lock All tasks, it indicates that we have locked some, but not all of the subsidiaries in that accounting period module. 

Note: All subsidiaries must be locked before the next task becomes available.

 

Will we need to lock periods for subsidiaries that are inactive?

We will not see those inactive subsidiaries in the accounting module Period Lock.

 

Is the Per Subsidiary Accounting Period Locking applicable to Tax Periods?
This feature is not applicable to Tax Periods

How is Per Subsidiary Accounting Period Locking apply to transactions?
Posting Period will default to null/blank when we enter a new transaction (i.e. Vendor Bill, Invoice, etc.) dated Today. Users with no Overrride Period Restrictions permission will have to enter the entity (Customer/Vendor) in the transaction first before the Period field is filled up. NetSuite will check which period is open for that subsidiary for the transaction date indicated in the transaction.