NetSuite Suit Foundation Certification- Important Match The Pair: Pankaj Ingale

Subsidiaries are separate legal entities that are controlled by another company, known as the parent company. They have their own financial statements and are required to prepare consolidated financial reports that include the financial information of both the parent company and its subsidiaries. Therefore, subsidiaries are the structure that allows the tracking of consolidated financial reports by a legal entity.

To offset the impact of intercompany purchases and sales, one can post journals to an Elimination subsidiary. This means that any transactions between subsidiaries will be recorded in the Elimination subsidiary, effectively canceling out their impact on the financial statements. By doing so, the consolidated financial statements will only reflect transactions with external parties, providing a more accurate representation of the company's overall performance.

The explanation for the given correct answer is that the global search feature is available on any Netsuite page. This means that users can easily search for specific information or records within the Netsuite system, regardless of which page they are currently on. This feature provides convenience and efficiency in navigating and accessing data within the Netsuite platform.

The recommended method to go directly back to the customer record for company A is to use the "Recent records" feature. This feature allows the user to quickly access recently viewed records, making it convenient to navigate back to the customer record that was just closed by mistake. By selecting the customer record from the recent records list, the user can easily resume their work without having to perform a new search or navigate through menus.

Mail Merge is a feature that allows users to send personalized mass emails or messages to a large number of recipients. In order to use this feature, users are typically required to agree to the terms of service of the mass messaging application. This is because the application may have certain guidelines or restrictions in place to ensure responsible and ethical use of the feature. By agreeing to the terms of service, users acknowledge and agree to abide by these guidelines.

The Administrator turns on custom Records by enabling features. This means that they need to access the system's settings and activate the specific feature that allows for custom Records to be used. This could involve enabling a specific module or functionality within the system that grants the ability to create and manage custom Records. It is not done through User/Roles, Company Preferences, or Set Up Customization.

To make items taxable in a One world account, two steps are required. Firstly, a tax schedule needs to be assigned to the item record. This ensures that the item is associated with a specific tax rate or tax rules. Secondly, tax schedules need to be created for groups of items. This allows for efficient management and application of taxes to multiple items at once. By following these steps, items can be properly categorized as taxable in the One world account.