Oracle NetSuite
Multi-Book Accounting
Oracle NetSuite Multi-Book Accounting
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Automation of SIP communications
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Hrs
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Why Choose Multi-Book Accounting
Automated Accounting RuleDriven Engine
The NetSuite Multi-Book system can help to streamline your accounting and reporting processes by eliminating the need for duplicate data entry and minimizing the risk of errors that can arise from managing multiple sets of books for different accounting standards. This is achieved through the use of a rule-driven engine that allows for the efficient creation and posting of business transactions to all books in accordance with the relevant accounting standards. The system also includes pre-built mapping capabilities between primary and secondary charts of accounts, which enables all book-specific activity to be recorded based on a single business transaction for various accounting tasks, including general ledger, revenue recognition, expense amortization, depreciation, and P&L allocations.
Foreign Currency Management
With NetSuite MultiBook, accounting departments can easily record transactions in book-specific functional currencies. The system also automatically calculates the impact of exchange rates, including realized and unrealized foreign currency gains/losses, which ensures compliance with ASC 830, SFAS 52, and other foreign currency management regulations. Furthermore, using NetSuite Multi-Book can help you avoid errors that may arise due to differences in ASC and IFRS standards for various accounting tasks, such as revenue recognition, lease accounting, insurance, and other relevant rules.
Comprehensive Reporting and Analysis
You can access standard financial reports for both internal and external reporting purposes, as well as customizable saved searches that allow you to analyze and manage key performance indicators. The system comes with an intuitive user interface dashboard and toolset, which does not require developers or technical resources. This means that end-users can quickly and easily drill down into real-time answers they need, giving them self-serve access to the information they need.
Customizations
Accounting departments can leverage SuiteCloud customization capabilities to create custom forms, records, and workflows that can be mapped to their specific business processes. These capabilities are seamlessly integrated with a powerful set of scripting capabilities, allowing users to customize and automate both new and existing financial processes as accounting rules change. With the NetSuite Multi-Book accounting engine, users can easily modify and automate financial processes to meet their changing business needs.
Our NetSuite Services
NetSuite Implementation
Expert guidance and support to businesses to ensure a hassle-free, seamless and successful deployment of NetSuite Cloud ERP.
NetSuite Custom Development
Custom development solutions for businesses on the NetSuite platform, providing added value and differentiation to their service offerings.
NetSuite Dedicated Resource
Expert guidance and support to businesses to ensure a hassle-free, seamless and successful deployment of NetSuite Cloud ERP.
NetSuite Support
Support service for NetSuite products with prompt and helpful assistance to users through various channels, including phone, email, & chat
NetSuite Training
Comprehensive training resources to help users learn and master their platform, including online courses, webinars, and a dedicated knowledge base.
NetSuite Integration
Seamless integration of NetSuite products applications, allowing businesses to customize their workflows and streamline their processes.
Aarialife Technologies
NetSuite Multi-book Accounting Partner
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