Our client wants to maintain Multiple set of books - as per Indian Statutes, UK GAAP and US GAAP from one entry. How can this be done? If any one knows about this please post your reply. Thanks[:)]
Are you talking about Fixed Assets? Django
I think Smitra means companies. In other ERP packages such as Oracle Applications, a Set Of Books is a way to separate legal/reporting entities. In Navision these are Companies. I don’t think there is a way to post in two different companies with one journal entry. It would require duplicate postings. You could however, use one of the Global Dimensions for one of the legal local reporting accounts.
Ah - thank you. You might have a look at Open Door’s Intercompany Processing product and see if that will meet your needs. http://www.opendoor.ab.ca Django
HI Mitra, you can maintain as many books you like. The only limitation is that you can integrate only one book with G/L. In general we have at least two books here in india. One for company rule and the other for IT rules. We generally integrate Company book with G/L. you have to post all the transaction through FA General Journals for books which are not integrated with G/L. WR Hari