NetSuite Multi-Book: Adjustment-Only Book

What is an Adjustment-Only Book?

An Adjustment-Only Book is a light version of Multi-Book accounting that gives users the ability to make Book-Specific adjustment journal entries and then combine the adjustments with the primary ledger through reporting. This differs from full Multi-Book accounting because a full secondary ledger is not required, rather, all entries from daily operations are posted to the Primary ledger, and the adjustment Book-Specific journal entries are added through reporting when the adjustment accounting book is selected.

A great use case is when a subsidiary is required to produce statutory reports that are slightly different from what is reflected in the primary ledger. As shown below, users can toggle between the primary ledger and adjusted ledger when running most reports:

How does an Adjustment-Only Book compare to Full Multi-Book Accounting?

*Historical Transaction Processing is the complex process of distributing the accounting impact of past transactions to the secondary book.

Additional information:

• As of the 2018.2 system upgrade, the adjustment-only book functionality no longer requires NetSuite’s approval to be provisioned.
• Adjustment-Only Books can only be enabled in a NetSuite OneWorld environment.
• If a user enters a Book specific journal entry in foreign currency, the user will have the ability to run a book specific currency revaluation.
• Book specific journal entries can be imported.
• Adjustment-Only Books support the ability to have a different set of consolidated exchange rates from the Primary Book.
• If Full Multi-Book is enabled in your environment, adjustment-only books can be used in tandem with your Primary and/or Secondary Book.

An Adjustment-Only Book is a relatively new feature and should be thoroughly tested in a sandbox before enabling it in a production environment. This feature should be considered if you are evaluating the use of Multi-Book because full Multi-Book accounting can require heavy lifting to set up and also adds additional ongoing financial data maintenance while Adjustment-Only Books require less setup time and less ongoing maintenance.

RSM Staff