Discussions
Stay up-to-date with the latest news from NetSuite. You’ll be in the know about how to connect with peers and take your business to new heights at our virtual, in-person, on demand events, and much more.
Now is the time to ask your NetSuite-savvy friends and colleagues to join the NetSuite Support Community! Refer now! Click here to watch and learn more!
Why the Sudden Revaluation of a foreign currency balance liability account?
Hi, Gurus!
I have a situation where an IC JE was entered back in 2021 and a liability, 2xxxx, account was affected.
The name column was NOT populated, which is why, most likely, the balance was never revaluated.
(NS considers such BS accounts with no vendor name as closed transactions, I belive.)
However, last month it was suddently revaluated and a huge Unrealized Gain was recorded.
How could this behavior from last month can be explained?
And more importantly, what are the ways to rectify this situation in general?
Obviously, this is an error in all the financial statements up until last month when the balance suddenly started to be revaluated.
0