Multibook driven Dashboard a CFO dream, it is firm reality in Netsuite.

Multi-book accounting provides the ability to maintain multiple sets of accounting records based on a single set of real-time financial transactions. This enables businesses to support different managerial and regulatory compliance needs such as:

■ Deliver different financial reports to serve different purposes A company that maintains its primary accounting records according to United States Generally Accepted Accounting Principles (U.S. GAAP), for example, can add accounting books to generate different versions of financial reports and statements that are mandated by local governments or industry regulations.

■ Provide detailed transaction-based reports for each accounting book Transaction-level reports can be generated for individual accounting books to satisfy managerial reporting requirements and provide detailed transaction level audit trail to book-specific financial statements. Saved searches and KPIs also support display by accounting book.

■ Automate posting to multiple accounting books according to pre-defined accounting rules You can create different revenue recognition and expense amortization rules for different accounting books.

■ Adjust financial results on a per-book basis Manual journal entries, including intercompany journal entries, can be posted for individual accounting books.

■ Close and then reopen accounting periods associated with any accounting book Process and modify the accounting result of one book without impacting other books.

■ Ensure data integrity across multiple accounting books the system automatically maintains data synchronization for parallel transactions in different accounting books to ensure data integrity.

■ Enable customization to leverage the multi-book Accounting context SuiteApps and customization can be implemented to yield book-specific financial results.

■ Run financial consolidation on a a per-book basis

A real USE CASE dealt with by Teamfield – A Japanese group controls a Canadian subsidiary based in Toronto, the underlying Base currency of the Subsidiary is Canadian Dollar, but the CFO needs to see a Dashboard of the Canadian Subsidiary in YEN.

Netsuite allows users to create Dashboard based on Accounting Books, this functionality is unique and highly on demand. As you can see from the picture below, the portlet Key performance indicator is based on Canadian Dollars , our Japanese CFO can now gather the current performance of its Canadian subsidiary in the Legacy Currency.

But Netsuite goes the extra mile , in fact by selecting on the same screen the Currency Book, the same portlet is automatically converted into YEN , see picture below

Japanese stakeholders can now analyze the performance of their Canadian subsidiary in a more familiar way , they can create an entire Dashboard canvas in YEN and publish it , this is achieved automatically and in a transparent way for the users without any tedious adjustments , or Excel exports.

Netsuite is the only End to End cloud solution which allows you to automate your entire organisation in one single Application. Teamfield Group is a Global Digital Sales Architect partner , we can help you to design and run your entire processes. We know what Netsuite can do for you , we can cover each area of your business and we can help you streamline your processes in the cloud. Contact us for further information at maria@tmfldgroup.com