Consolidated TB Migration

When scoping an ERP implementation in NetSuite, it is important to consider the necessity and difficulty of migrating consolidated trial balances (not just the subsidiary trial balances).

• Will multiple consolidated trial balances need to be imported (subsidiary structure is multiple levels)?
• Do they have differing functional currencies, and thus, cumulative translation adjustment is present?
• To add more fuel to the fire, if historical consolidations were completed improperly, it may not all tie out in NetSuite. To get the consolidations to tie out, use suspense subsidiary(s).

It’s definitely a complicated data migration, but it’s possible.  Here are a few key steps:

• Migrate all subsidiary trial balances.
• Migrate all intercompany balances and run eliminations.
• Import consolidated exchange rates used in legacy consolidated financials.
• Compare consolidated balances in NetSuite to legacy financials. For any difference that may exist, create a new subsidiary named “xSuspense (Parent Co)” and import balance to that subsidiary until consolidations match.
• On the first day of Go Live, reverse all trial balance differences in the suspense subsidiary(s).
• Inactivate suspense subsidiary(s).

The balance imported to the suspense subsidiary(s) represents the discrepancy due to improper consolidation in legacy system.  It should only hold a balance in historical periods.