Whenever the same business event requires different accounting treatments. In order to report financial results within compliance based on multiple accounting standards concurrently, accounting departments can leverage NetSuite Multi-Book to comply with multiple sets of financial books in parallel and issue financial statements in accordance with whichever accounting standards are required. This will reduce the manual work needed by the accounts to comply with various compliances whether it is for a country or industry specific.
There are various features some of which includes but not limited to:
Key things to keep in mind while configuring MultiBook within NetSuite
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