In addition to manual exchange rate updates (New to NetSuite | Methods for Updating Exchange Rates: Manual Updates) and automatic exchange rate integration (New to NetSuite | Methods for Updating Exchange Rates: Automated Integration), you can also update exchange rates using the CSV Data Import method.
When dealing with large volumes of historical data or rates from a specific third-party system, the Import Assistant is the most efficient choice. This article details how to use CSV files to update your currency records in bulk accurately.
Note: This method is available to all accounts with the Multiple Currencies feature enabled.
Steps How to Import Currency Exchange Rates via CSV:
1. First, download a CSV template from the Currency Exchange Rates page.
a. Navigate to List > Accounting > Currency Exchange Rates.
b. On the Currency Exchange Rates page, click the CSV icon.
Note: A CSV file will be downloaded. Use this as a template for the import process.
2. The Currency Exchange Rates import requires the following values for each rate to be imported, make sure to update these fields on the CSV file.
- Currency: The foreign currency you are converting.
- Exchange Rate: The number of base currency units that equal one foreign unit.
- Effective Date: The first date the system should begin using this rate.
- Base Currency: The home currency of the specific subsidiary
3. Start the Import process.
a. Go to Setup > Import/Export > Import CSV Records.
b. Select the following option for each field:
- Import Type: Accounting
- Record Type: Currency Exchange Rates
- Character Encoding: Unicode (UTF-8)
c. Click the Select button to upload your CSV file.
d. Once uploaded, click Next.
e. On the Data Handling field, select Add (to create new historical rates) or Update (to modify existing records)
f. Click Next.
g. On the Field Mapping field, review the list to ensure your file columns are linked to the correct NetSuite fields (e.g., Base Currency to Base Currency).
h. Click Next.
i. Click Save & Run.
A successful import will show a status of "Complete," ensuring your bulk rates are now live and ready for use across your transactions. This method remains the most effective way to maintain high-volume accuracy while keeping your historical data intact and organized.
For more advanced exchange rate update workflows, please refer to New to NetSuite > Advanced Accounting & OneWorld.
