Tag: multibook

MUTI-BOOK LIMITATIONS

• A OneWorld account is required even if there is only one subsidiary. • The following types of accounts cannot be mapped: o Non-posting accounts such as sales orders and payroll adjustments o Bank accounts o Credit card accounts o Selected system accounts o For accounts receivable and accounts payable, mapping is ignored for transactions… Continue reading MUTI-BOOK LIMITATIONS

Relationship b/w subsidiaries and accounting books

Multibook accounting is free to use. Do not require any additional purchase. There might be need some additional licenses for several country-currency combination use cases. Initial combination was Canada-USD in primary book. In secondary book, Canada- CAD. This requires an additional license for Canada-CAD combination.

Setting Revenue Recognition Journal Entries for Secondary Book from HTP

Requirement: The User has successfully completed the Historical Transaction Process (HTP). However, the User cannot generate Revenue Recognition Journal Entries for the Secondary book even if Create Revenue Recognition and Amortization Journal Entries are set to True.  Solution To check if Revenue Arrangements are also copied to Secondary book: 1. Navigate to Transactions > Financial >Revenue Arrangements 2. Click Customize View 3. On… Continue reading Setting Revenue Recognition Journal Entries for Secondary Book from HTP

Adjustment-Only Books

This is a feature in Multi-Book Accounting. Adjustment-only books allow you to post book-specific adjustments to a secondary, adjustment-only book at closing. They serve as a light version of multi-book accounting, but you do not need the Full Multi-Book Accounting feature to use them. Adjustment-only books differ from standard secondary books in that they do… Continue reading Adjustment-Only Books

Adjustment-Only Book- Book Generic & Book Specific Transaction

Adjustment-only books are a way to make specific changes to a separate book when closing it. They provide a simplified version of multi-book accounting without requiring the Full Multi-Book Accounting feature. Unlike standard secondary books, adjustment-only books don’t duplicate data from the primary book. Instead, users record day-to-day transactions in a base book, and any… Continue reading Adjustment-Only Book- Book Generic & Book Specific Transaction