Discussions

Check out Oracle NetSuite upcoming events and conferences here
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.
Expand your NetSuite knowledge by joining our Ask A Guru Live sessions. RSVP on this event now.
Community Poll: What sort of content would you like to see more of?

Why does Consolidated Exch. Rate not matching period end rate?

edited Jan 30, 2023 9:56PM in Ask A Guru 5 comments

Hi there, hoping someone can help us out.

We have Company C (GBP) -> Company B (EUR) -> Company A (USD)

C is a child of B, which is a child of parent A.

The December Consolidated Exchange Rate for Company C (GBP) --> Company A (USD) is showing as = 1.20851182

From speaking with Netsuite Support, I understand that the consolidated exchange rate is calculated by first converting C --> B, and then B-->A. So based on the period end dates provided via Xignite, the consolidated exchange rate is calculated correctly.

However, it is my understanding that the consolidated exchange rate should also equal the Period End Rate of the GBP>EUR. In this instance, The GBP>USD rate is 1.2103 vs the Consolidated Exch. Rate of 1.20851182, leading to a variance of 0.0018 which is causing issues with our close.

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 2 ((Apr-Jun 2024) )

This Week's Leaders

This Month's Leaders

All Time Leaders