NETSUITE MULTI-BOOK ACCOUNTING

NETSUITE MULTI-BOOK ACCOUNTING
NETSUITE MULTI-BOOK
ACCOUNTING
One Business Reality, Multiple Sets of Accounting Results,
All in One Suite
Whenever the same business
event requires different accounting
treatments, whether because of the
industry-specific rules, country-specific
rules or both, different reporting
outcomes will occur. In order to report
financial results within compliance
based on multiple accounting standards
concurrently, accounting departments
can now leverage NetSuite Multi-Book
to comply with multiple sets of financial
books in parallel, and issue your
financial statements in accordance with
whichever accounting standards
are required.
Key Features
• Book specific chart of accounts,
general ledger, accounting rules and
financial reporting.
• Pre-built mapping from one transaction to
multiple books.
• Foreign currency management per book.
• SuiteCloud Platform support for customizing
business process.
www.netsuite.com
Product Highlights
Automated Accounting Rule-Driven Engine
NetSuite Multi-Book eliminates data entry
replication and reduces the need for errorprone manual adjustments from your
accounting and reporting processes due to
managing unique sets of books per accounting
standard. Using a powerful rule-driven engine,
accounting departments can create business
transactions while automatically posting the
activity to all books efficiently, in accordance
with the appropriate accounting standards.
With pre-built mapping capabilities between
your primary and secondary charts of
accounts, the NetSuite Multi-Book engine
can record all book-specific activity based
on a single business transaction for the
general ledger, revenue recognition, expense
amortization, depreciation, P&L allocations
and more.
Comprehensive Reporting & Analysis
NetSuite Multi-Book makes it easier than ever
to perform financial reporting and analysis
for each of your books. With an intuitive user
interface dashboard and toolset that doesn’t
require developers or technical resources,
end-users will have self-serve access to drill
down quickly and easily into the real-time
answers they need.
Standard financial reports are available out-ofthe-box for internal and external reporting as
well as customizable saved searches to analyze
and manage key performance indicators.
Foreign Currency Management
Accounting departments can use NetSuite
Multi-Book to record transactions using unique
book-specific functional currencies. Based on
exchange rates stored in the system, NetSuite
Multi-Book can automatically calculate the
general ledger impact for all books, including
BOOK 3
BOOK 4
AMERICAS
MEXICO
EUROPE
APAC
CANADA
JAPAN
PHILIPPINES
UK
CZECH
Primary Book. An example of how NetSuite Multi-Book understands the relationship between subsidiary and book.
© NetSuite Inc. 2016
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the realized and unrealized foreign currency
gain/loss amounts per transaction, to comply
with SFAS 52, Foreign Currency Translation
(superseded by ASC 830) and other
country-specific foreign currency
management regulations.
SuiteCloud Customization Support
SuiteCloud customization capabilities are
available for accounting departments to
build custom forms, records and workflow
and map them to your business processes.
Seamlessly integrated with a powerful set of
scripting capabilities, the NetSuite Multi-Book
accounting engine allows users to customize
and automate both new and existing financial
processes as accounting rules change.
Key Benefits
NetSuite Multi-Book provides powerful
capabilities that help companies achieve
these benefits:
• Optimize the financial close process with
concurrent posting to all books as your
business transaction occur, rather than
waiting ‘after the fact’ until the end of the
period to replicate data entry and
post adjustments.
• Ongoing compliance to make the necessary
customizations in your accounting processes.
The synergy between the NetSuite MultiBook accounting engine and SuiteCloud
technology enables accounting and business
users to implement custom solutions easily
and make timely adjustments to comply with
changes in accounting regulations.
• Real-time visibility to see accurate flash
report financials for any book, anytime.
• Effective financial management across
the enterprise with subsidiary-book
relationship mapping capabilities to
perform financial reporting and
analysis accurately.
© NetSuite Inc. 2016
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