Netsuite Accounting Context

Hi All,

In this section we are going to discuss about Accounting Context , you can see it only if you have One World Account.
You can find it under Setup > Company > Preferences > General Preferences.

Accounting Context is relationship between Country's GAAP reporting requirement and statutory chart of accounts (COA). 

This feature is very useful in multi book accounting, user can set Accounting Context for secondary book in Netsuite.

When you select an accounting context from this dropdown list, all transactions including system-generated transactions post to the defined COA account name and number.

This field is blank by default. When blank, all transactions including system-generated transactions post to the consolidated accounts across all subsidiaries.

User can search below column on Account's Saved search if this feature is enabled:

1. Accounting Context

2. Language

3. Localized Name

4. Localized Number

5. Localized Legal Name 

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Thanks

Netsuite Guru