Accounting Book Status
Please contact your sales or account representative to find out how to get the Full Multi-Book Accounting feature. The assistance of NetSuite Professional Services or a Multi-Book authorized partner is required to implement this feature. You should consider contacting NetSuite Professional Services or a Multi-Book authorized partner for assistance in setting up the Adjustment-Only Books feature, even though it is not required.
Multi-Book Accounting, including the Adjustment-Only Books feature, is available only in NetSuite OneWorld.
Accounting books can have one of three states. The state is defined on the Accounting Book independently for each subsidiary. The state is indicated in the Status field on the Subsidiary line of the record.
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Pending – This is the initial state of a new accounting book. When a book is pending you can do the following:
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Specify the first base period date in which a book should be effective.
If you have the Inventory feature enabled, you cannot have an inventory transaction prior to the effective period of secondary book.
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Configure the base currency for subsidiaries in the book.
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Initialize book-specific account balances.
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Process historical transactions.
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Create book-specific journal entries.
Note:Any time you add an existing subsidiary to an accounting book, that subsidiary is set to pending status. Subsidiaries already added to the accounting book maintain the active status.
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Active – Accounting books must be active to post new generic book transactions to them. Activate individual subsidiaries in an accounting book when in Edit mode. If you edit existing transactions in an open period, the changes are posted to the general ledgers for all associated active books.
Active secondary accounting books can be inactivated.
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Inactive – The general ledger impact of newly created transactions are not populated in inactive accounting books. However, if you edit existing transactions in an open period, the changes are also posted to the general ledgers for all associated inactive books. When an accounting book is inactivated for a subsidiary, it cannot be reactivated.
The following diagram shows the states of accounting books, or after a subsidiary has been added to an accounting book.