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!
Update your Profile with your Support type to get your Support Type badge.
Don't miss out on our Question of the Week! You only have until tomorrow, October 23, 2025, 2PM ET to comment your answers and earn rewards! Click here for more details.
Uncover the power of data with the Analytics Hub —your ultimate guide to mastering NetSuite Saved Searches and Reports. Simplify the complex and unlock your organization's true potential. Dive into the Analytics Hub now and soar to new heights!
To help you get the most out of your 2025.2 Release Preview account, review the topics outlined in the 2025.2 Release Preview Guide.
Nominate Your Peers for NetSuite Support Community's Choice of the Quarter! Submit your nomination today.
Intelligent Payment Automation version 1.0.3 is now available in the SuiteApp Marketplace. The SuiteApp, powered by BILL, lets you automate payments, manage vendor details, and bank account information within NetSuite. Learn more

Foreign Exchange conversion issues?

edited Dec 3, 2019 2:48PM in General 4 comments

Hello,

We started doing business in the UK last year and have not been able to figure out how NetSuite is handling our FX transactions.

It is my understanding that all FX conversions - realized and unrealized (BS conversion) runs through one account in the income statement.  Obviously, as we prepare our financial report, we are required to take out unrealized conversions and run through OCI.

However, we are finding that our cash balances are off because Netsuite is using a much different rate than the rate the transaction actually occurred at.  How do we remedy this?  Over time, the small differences add up to large discrepancies.  The only way I could account for them is to create a sub account of the foreign cash account to run the "revaluation" entry through.

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!

Leaderboard

Community Whiz

Quarter 4 (Oct-Dec 2025)

This Week's Leaders

This Month's Leaders

All Time Leaders