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SuiteWorld October 6 - 9, 2025: Agenda Builder is live!
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Read on for the latest updates including:
• Agenda Builder launch
• SuiteWorld On Air registration
• New NetSuite Prompt Studio Contest
• And more!
Check out this thread to learn more!
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Don’t miss your chance to meet our SuiteGurus—NetSuite Support professionals and subject matter experts with extensive experience in select product areas, including OneWorld, Advanced & Basic Accounting, Supply Chain Management, Receivables & Payables, CRM, Account Administration, and the SuiteCloud Platform. Full Conference attendees can prebook exclusive 30-minute one-on-one sessions for your product questions.
Spots are limited! Register through your Agenda Builder and find SuiteGuru under Agenda Enhancements.
FOREX and Currency Revaluation
Hi,
I need help in sorting Forex and Currency Revaluation ..
We are Australian Company, Base currency as AUD.. We do our Major purchases in USD.. and pay our vendors in USD and sell generally in Base currency.
We maintain our system rate manually based on market rate.. and is generaaly updated every EOM.
To pay vendors we cover our selves for upto 6 weeks ahead and book Forward Fx Contracts.. we close our bills on the basis of Weightd Average exchange rate calculated based on contracts matured and USD Bank Balance.
My questions are:
-- when we update system rate.. do we need to revalue our open vendors also.. and take the necessary forex gain.
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