Allocation Schedules in Multi-Book Accounting
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.
Multi-Book Accounting, including the Adjustment-Only Books feature, is available only in NetSuite OneWorld.
In NetSuite, you can create allocation schedules to allocate the balance of a source account to one or more other accounts. Although allocation schedules are designed for expenses, there is no restriction on the types of accounts that can be used for the source and target.
Intercompany allocation schedules are similar to regular allocation schedules except that they require a source subsidiary, a target subsidiary, and an intercompany clearing account.
When Multi-Book Accounting is enabled, allocation schedules may be either book-generic or book-specific. This includes intercompany allocation schedules. Whether the schedule is book-generic or book-specific is determined by your selection in the Accounting Book list.
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To create a book-specific allocation schedule, select a book from the Accounting Book list.
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To create a book-generic allocation schedule, leave the Accounting Book field blank.
For intercompany allocation schedules, the accounting books that are available are determined by the source subsidiary that you select. Select the source subsidiary first.
Book-generic allocation schedules generate book-generic allocation journal entries. The allocations in the secondary books are the same as in the primary book. If you edit the journal entry, the allocated values for all of the books are updated.
Book-specific allocation schedules generate book-specific allocation journal entries. Book-specific journal entries that post to accounts receivable or accounts payable cannot have named customers or vendors. Be sure that your book-specific allocation schedule does not include an accounts receivable or accounts payable account type that includes a value in the Name field, or the journal entry fails with an error.