Multi-Book Accounting groups NetSuite records into two categories:
- Book-specific: Records that are created for only one book.
- Book-generic: Records that are created and shared across all accounting books. Some book-generic records may have book-specific attributes.
Most transactions are book-generic, many with book-specific attributes. Some NetSuite processes, however, can be performed using only one base currency. Transactions and templates related to these processes are book-specific. The processes are:
- Inventory COGS
- Revenue recognition
- Deferred revenue reclassification journal entries
- Expense amortization
- Fixed asset depreciation
- Intercompany elimination journal entries
- Month end currency revaluation
Allocation schedules are a special case. They may be either book-generic or book-specific depending on your selection in the Accounting Book list.