NetSuite Multi-Book Accounting
Automated Accounting Rule-Driven Engine
NetSuite Multi-Book eliminates data entry replication and reduces the need for error-prone manual adjustments from your accounting and reporting processes due to managing unique sets of books per accounting standard. With pre-built mapping capabilities between your primary and secondary chart of accounts, the NetSuite Multi-Book engine can record all book-specific activity based on a single business transaction from 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.
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 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and unrealized foreign currency gain/loss amounts per transaction to comply with SFAS 52, Foreign Currency Translation (superseded by ASC 830) and other country-specific foreign currency management regulations.
NetSuite Multi-Book 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.
Plumb’s growing team of NetSuite experts has enhanced their Southern California presence in the rapidly expanding cloud-computing industry. Through NetSuite, Plumb is able to give their clients access to a world class development platform and an innovated line-up of cloud-based business management solutions. NetSuite’s core integrated suite combines ERP, CRM, PSA, E-commerce and NetSuite OneWorld, the system for multi-entity and multi-subsidiary.
Plumb is an authorized NetSuite Solution Provider and offers valued financial and business resources and counsel for companies and individuals on the move. With over 400 clients in Southern California, Plumb’s partnership with NetSuite provides a revolutionary solution for companies in any stage of growth. Plumb is located at 1227 Prospect Street, Suite 200, La Jolla, CA 92037, with additional offices in Rancho Santa Fe, CA and Newport Beach, CA.
For more information regarding NetSuite Multi-Book Accounting, contact us