There are parent company belongs to a country and it have subsidiaries that locate other countries. At that time, if they want to follow separate accounting policies such as depreciation rules, amortization schedules etc for subsidiaries other than that of parent company, they have to implement multi book for the same purpose.
Maximum 4 secondary books can be created other than primary book.
Consolidation of financial statements will be as per parent company’s accounting rules.
The effective period will be set before entering a stock transaction. This is one of the limitation of multi book. Because, there one step known as historical transaction processing (HTP) have to be implemented before inventory transaction.
Multi book is not sufficient to meet all local reporting requirements. For that, use International Tax Reports.
Usually, in every netsuite oneworld account basic multi book feature is available. But that is not sufficient for all requirements. In that adjustment only book feature only available. This feature is used only to do separate reports that are based on primary book after making some book adjustments.
For implementing full multi book accounting feature, there must be a person who have completed the certification course.