Finance Book

A Finance Book allows you to maintain separate accounting for different purposes within the same company. For example, you might maintain one set of books for tax reporting and another for management purposes.

When to Use Finance Books

• Tax vs. Management Accounting: Use different depreciation methods for tax reporting and management reporting.
• Multiple Reporting Standards: Maintain books under different accounting standards.
• Asset Valuation: Apply different depreciation rates for different purposes.

Setting Up a Finance Book

1. Go to Accounting > Finance Book and click New.
2. Enter a Finance Book Name (e.g., "Tax Book", "IFRS Book").
3. Select the Company.
4. Check Is Default for the primary book.
5. Click Save.

Using Finance Books

Once created, you can:

• Assign different Finance Books to different Assets
• Post depreciation entries to specific Finance Books
• Generate financial reports filtered by Finance Book
• Maintain separate asset schedules for each book

Enabling Finance Books

To enable Finance Books in your company:

1. Go to Company > Company Setup.
2. Check Enable Finance Books.
3. Set the Default Finance Book.

Related Topics

• Company Setup
• Asset Depreciation
• Accounting Dimensions