This reminder applies to you if your NetSuite account is still configured to receive currency exchange rates from Refinitiv. Refinitiv has been an exchange rate provider for the Currency Exchange Rate Integration feature in NetSuite.
What Is Changing?
Effective October 1, 2021, you won't be able to use Refinitiv as your exchange rate provider for the Currency Exchange Rate Integration feature in any of your NetSuite accounts.
To minimize the impact on your business, this change will occur after your production account receives exchange rates for the effective date of September 30, 2021.
Recommended Actions
We encourage you to change your rate provider in your NetSuite Accounting Preferences prior to October 1, 2021. Changing your rate provider prior to this date will enable you to make the change on a schedule that suits you best.
Your options are:
- Xignite
- HSBC after your upgrade to 2021.2
- Turn off Currency Exchange Rate Integration and manually import exchange rates
If you act and manually select one of the above options, NetSuite will not change anything in your account.
If you do not take action, NetSuite will automatically change your Rate Provider for you on October 1, 2021.
- If you are upgrading to 2021.2 before October 1, 2021, we will change you to HSBC.
- If you are upgrading to 2021.2 after October 1, 2021, we will change you to Xignite.
- Regardless of what NetSuite moves you to, you are free to change your provider to either option after October 1, 2021.
To change your provider:
- Go to Setup > Accounting > Accounting Preferences.
- In the Exchange Rate Integration section, from the Rate Provider list, select an alternative provider.
- Click Save.
If you choose to import your rates manually, follow the steps in Currency Exchange Rate Import, SuiteAnswers ID 24209.
If you have any questions, please contact your NetSuite Account Manager.
