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When should I run Revalue Open Currency Balances process?

edited Dec 17, 2022 12:23AM in Ask A Guru 2 comments

It seems like every other month we have strange issues with currency revaluation in NetSuite. I have a few questions on this:

-     When should I run Revalue Open Currency Balances process? Should it be run at the start of a new month for the previous month (e.g. on 12/1 for the November period), or should it be run as the last step before we close the books and all transactions are in (e.g., on 12/15 for the November period when closing the period), or can it be run multiple times?

 

-     We have a bank account that had some foreign currency transactions but was at $0 and was no longer being used. When I ran currency revaluation this month it generated a gain/loss – how to I stop this from happening? This account should stay at $0 and we don’t want to use it

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