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What is best practice in NetSuite for an entity changing currency?

in Ask A Guru 7 comments

With the upcoming adoption of the Euro in Bulgaria, we will need to change the ledger currency of our Bulgarian entity from Bulgarian Lev (BGN) to the Euro (EUR). What is the best practice for this?

  • A - Is it possible to change the currency of the ledger from 1st Jan 2026 (adoption date) - leaving the historic BGN data intact but being a EUR ledger moving forward? (I expect this is unrealistic)
  • B - If not, would best practice be to just create a new EUR subsidiary and post opening balances on 1st Jan 2026? (not ideal, given it will require an additional entity)
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