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Current, Average and Historical Consolidated Exchange Rates are the Same

edited Aug 21, 2023 7:05AM in NetSuite Admin Corner 1 comment

According to SuiteAnswers 7734 || Consolidated Exchange Rates,

If you use NetSuite OneWorld and have multiple base currencies, NetSuite maintains a page of consolidated exchange rates at Lists > Accounting > Consolidated Exchange Rates. Consolidated exchange rates ensure that currency amounts translate properly from child to parent subsidiaries for consolidated reports. The page includes consolidated exchange rates between the base currencies of each subsidiary and its parent or grandparent subsidiary for a specified accounting period.

As further discussed in SuiteAnswers 7728 || Consolidated Exchange Rate Types,

The Consolidated Exchange Rates table includes three consolidated exchange rate types. Current, Average, and Historical.

Average – The weighted average of the currency exchange rates for all transactions posted during the period to accounts with a rate type of Average

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