Multi-Book Balance Sheet Report
Please contact your sales or account representative to find out how to get Multi-Book Accounting. The assistance of NetSuite Professional Services is required to implement this feature.
Multi-Book Accounting is available only in NetSuite OneWorld accounts.
The Multi-Book Balance Sheet report enables you to compare the assets, liabilities, and equity associated with two different accounting books. This comparison is useful for reconciling one accounting book against another.
In the report footer, from the Accounting Book 1 and Accounting Book 2 lists, select the accounting books for which the report is to display data, or accept the default accounting books. The data that displays includes automatically calculated accounts such as Net Income. This data appears in the Amount (Book 1) and Amount (Book 2) columns. Any difference appears in the Difference column.
The difference is not calculated if the currency in the Book 1 and Book 2 columns is different.
The standard Multi-Book Balance Sheet report includes the following rows:
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ASSETS (header row)
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Current Assets (header row)
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Bank (financial section)
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Accounts Receivable (financial section)
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Unbilled Receivable (financial section)
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Other Current Asset (financial section)
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Total Current Assets (summary row)
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Fixed Assets (financial section)
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Other Assets (financial section)
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Total ASSETS (summary row)
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LIABILITIES & EQUITY (header row)
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Current Liabilities (header row)
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Accounts Payable (financial section)
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Credit Card (financial section)
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Other Current Liability (financial section)
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Total Current Liabilities (summary row)
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Long Term Liabilities (financial section)
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Equity (header row)
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Equity (financial section)
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Retained Earnings (header row)
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Total Retained Earnings (summary row)
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Net Income (referenced row from Income Statement)
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Cumulative Translation Adjustment (financial section)
(OneWorld accounts with multi-currency enabled only)
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Total Equity (summary row)
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Total LIABILITIES & EQUITY (summary row)
Header and summary rows are linked. Each summary row is calculated either through a sum of child row amounts or through a specified formula. Standard section data are selected based on account type and are grouped by accounts.
You can customize the Multi-Book Balance Sheet report in the Financial Report Builder. You can add, reorder, and change the hierarchy of rows. You can also add these columns: Amount (Book 1 - Generic), Amount (Book 1 - Specific), Amount (Book 2 - Generic), Amount (Book 2 - Specific). The sum total of the book generic and book specific transactions in an accounting book is equal to the value in the Amount column for that accounting book. Columns displaying only book specific transactions, book generic transactions, or the difference are not linked. For information see Financial Statement Rows and Editing a Financial Statement Section.
During customization, if you remove the original Amount column and add it back later, you cannot drill down on the data in the Amount column that you added.
To see the Multi-Book Balance Sheet report:
Go to Reports > Financial > Multi-Book Balance Sheet.
A message appears indicating that your report is loading. The status bar in the footer of the report indicates the progress as your report loads. You can click Cancel Report next to the status bar to stop the report from loading.
In the footer of the report, you can select from filter lists to refilter report data. You also can select from the Column list to display report amounts by an additional dimension, including time period, class, department, location, or subsidiary.
For information about the permissions required to view and customize financial statements, see Permissions and Roles.
The Report by Period user preference determines whether report data is calculated by date range or by period. This preference is available at Home > Set Preferences, on the Analytics subtab. To display this report's data by date range, set this preference to Never. To display this report's date range by period, set this preference to All Reports, or to Financials Only. For more information, see Choosing a Date or Period Range for a Report.
If you select Accounting Period from the Column list, the report includes a column for each period from the beginning of your NetSuite data through the current period. This selection can cause the report to exceed the maximum number of permitted columns, which may return an error. To avoid this issue, select an alternate period in the footer filter or on the Filters page of the Financial Report Builder. Alternatively, instead of selecting a column dimension of Accounting Period, add columns with the specific alternate period ranges you want to display on the Edit Columns page of the Financial Report Builder.