Using Multi-Book Accounting

Note:

Please contact your sales or account representative to find out how to get the Full Multi-Book Accounting feature. The assistance of NetSuite Professional Services or a Multi-Book authorized partner is required to implement this feature. You should consider contacting NetSuite Professional Services or a Multi-Book authorized partner for assistance in setting up the Adjustment-Only Books feature, even though it is not required.

Important:

Multi-Book Accounting, including the Adjustment-Only Books feature, is available only in NetSuite OneWorld.

The Full Multi-Book Accounting feature provides the ability to maintain multiple sets of financial records in parallel to support various accounting and reporting standards.

Note:

The Full Multi-Book Accounting feature is enabled by NetSuite Professional Services. You can clear the Full Multi-Book Accounting box on the Enable Features page if both of the following conditions exist. 1)  There are no secondary accounting books. 2) No other Full Multi-Book Accounting features are enabled.

Terminology

Multi-book accounting introduces some new terms to the NetSuite vocabulary:

General Architecture

The Full Multi-Book Accounting feature provides two distinct but complementary methods to generate secondary book financial results:

These methods may be used separately or in combination.

Changes in the User Interface

When Multi-Book Accounting is enabled, there is no change in the user interface for book-generic records unless the record also has book-specific attributes. The primary book record attributes retain their current locations to ensure backward compatibility.

For most book-generic records with book-specific attributes, the secondary book information is on the Accounting Books subtab. The screenshot below shows the Accounting Books subtab for a sales order.

Accoutning Books subtab for a sales order.

For item records, the book-specific attributes are on the Revenue Recognition / Amortization subtab in an Accounting Books subtab as shown below. This subtab is added only when revenue recognition or amortization features are enabled.

Accounting Books subtab

Book-specific records include a required Accounting Book list as shown below.

Accounting Book field on the Generate Revenue Commitments page

The portlet settings at the top of the Home page include an Accounting Book list. This enables you to select both the Date Range and the Accounting Book for your reports and KPIs. The new settings link and popup are shown below.

Settings link and popup that shows Date Range and Accounting Book

The GL Impact page includes an Accounting Book filter so that you can view and export the general ledger impact for all accounting books or for individual accounting books. This page also contains information to indicate the associated accounting book and corresponding subsidiary base currency of each GL impact line.

Reports and searches that rely on book-specific records or accounting attributes include an Accounting Book footer filter. For more information, see Reports, KPIs, and Saved Searches in Multi-Book Accounting.

Related Topics

Planning for Multi-Book Accounting
Enabling Multi-Book Accounting Features
Adding Accounting Books
Adding a New Subsidiary to an Active Book
Roles and Data Access for Multi-Book Accounting
Book-Generic and Book-Specific Records
Multi-Book Accounting Overview
Multi-Book Accounting
Adjustment-Only Books Overview
Restricting Role Access to Accounting Books

General Notices