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Nailing OneWorld Basics
Using the currency exchange rate table or setting up prices for each currency
on each item is a decision dependent upon your business model. Retail businesses,
or wholesale businesses with repeat business to the same customers, might want
to set prices. However, if you sell on a one-time basis to other businesses or
retail customers, you might want to use the currency exchange rate table. Many
service-based organizations may wish to sell with the benefit of currency exchange
rates. It's a decision you need to make.
Setting up states/provinces/counties
If you have a subsidiary in Brazil, then you must set up the Brazilian states in the
system prior to setting up the subsidiary. Navigate to Setup | Company | States/
Provinces/Counties and click New. Then you fill out the form, as shown in the
following screenshot:
You can use a different short name if you wish, but it is not required. Now that we
have our states and our currencies, we can get started with setting up the subsidiaries.
Setting up your organization's structure
In Chapter 1, What is NetSuite OneWorld?, we introduced the idea of the
organization's structure and suggested that you start putting this together in
working format, so that when the time came to begin the OneWorld configuration,
you had the structure handy.
We should note here that OneWorld comes with a root subsidiary in your country,
currency, and language (unless you specify otherwise to your sales person). If
your organization is headquartered in Canada, then your root subsidiary will be
based in Canada with the Canadian Dollar as its currency, and English or French
as its language.
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