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Foreign Exchange Gains and Losses

edited Jun 2, 2025 2:22PM in Ask A Guru 1 comment

Hi there, I am a new user in this forum, and a relatively new and inexperienced user of Netsuite. We run an international company which receives payments from all over the world into a number of different foreign currency bank accounts here in Australia. Currently our system is set up so that when a payment is received into the foreign currency account a realised gain/loss is recorded by Netsuite at the payment date.  However, for our reporting to the ATO that payment is still considered an unrealised gain/loss until the funds are converted into Australian dollars.  I would like to

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