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Foreign Currency Bank Account realized gains

edited Nov 26, 2019 8:56AM in Accounting / ERP 6 comments

It seems NetSuite is unable to compute foreign currency gains / losses for Bank accounts. Anyone has an idea how to configure / implement this ??

We need to track this as we time our bank transfers and manage this gain / loss.

Please take a look in the example below :


    Invoices Raised by India Sub                       Amount USD    Conversion    Amount in INR   

1/Jun    Invoice dt. 1/June/2017                         800,000        64.855             51,884,000.00
15/Jun    Amount Received in USD Account      800,000        64.5725           51,658,000.00          (226,000.00)
20 Jun    Amount Transferred to INR Bank        800,000        64.95               51,960,000.00               76000.00

If you see the example then you realize that on 15 Jun there was a notional loss.
Keeping this in mind we did not transfer the USD funds to our INR Bank.

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