Multi-Book
Report Financial Results Based on Multiple Accounting Standards Simultaneously.
Summary
Whenever the same business event requires different accounting treatments, whether because of industry-specific rules, country-specific rules, or both, different reporting outcomes will occur.
In order to report financial results in compliance with multiple accounting standards at the same time, accounting departments can leverage NetSuite Multi-Book, in order to comply with multiple sets of financial books in parallel and issue financial statements in accordance with whichever accounting standards are required.
Features
- NetSuite Multi-Book eliminates data entry replication and reduces the need for error-prone manual adjustments from your accounting and reporting processes, which are caused by managing unique sets of books per accounting standard
- Standard financial reports are available for internal and external reporting, as well as customisable saved searches for analysing and managing key performance indicators
- Accounting departments can use NetSuite Multi-Book to record transactions in book-specific functional currencies
