In NetSuite OneWorld, each legally-distinct company is represented by a subsidiary record. Transactions, books, and fiscal calendars roll up to the subsidiary, allowing financial statements to be produced either per subsidiary or on a consolidated basis. This keeps the two entities’ ledgers, balances and reports completely separate while still residing in one NetSuite account.

A. Separate fiscal calendars only define accounting periods; they do not create separate ledgers or entity-level reporting.

B. Classes are merely transaction classification tags; they do not enforce legal-entity segregation or separate financial statements.

C. Multi-book accounting holds parallel accounting books (e.g., GAAP vs. IFRS) for the same entity, not for different legal entities.

1. Oracle NetSuite. “OneWorld: Financial Consolidation & Multi-Subsidiary Management

” data sheet

p.1-2 (subsidiaries = separate legal entities; individual and consolidated reporting).

2. NetSuite Help Center > Subsidiaries > “Subsidiary Records” (last accessed 2025-08-21): “Create a subsidiary for each separate legal entity…Financial reports can be run per subsidiary.”

3. NetSuite Help Center > Accounting Periods > “Fiscal Calendars”: defines periods only

no entity separation.

4. NetSuite Help Center > Classification > “Departments

Classes and Locations”: used for internal segment reporting

not legal entities.

5. NetSuite Help Center > Multi-Book Accounting > “Overview”: supports multiple accounting standards within the same subsidiary

not cross-entity separation.