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Foreign Currency Bank Account realized gains
It seems NetSuite is unable to compute foreign currency gains / losses for Bank accounts. Anyone has an idea how to configure / implement this ??
We need to track this as we time our bank transfers and manage this gain / loss.
Please take a look in the example below :
Invoices Raised by India Sub Amount USD Conversion Amount in INR
1/Jun Invoice dt. 1/June/2017 800,000 64.855 51,884,000.00
15/Jun Amount Received in USD Account 800,000 64.5725 51,658,000.00 (226,000.00)
20 Jun Amount Transferred to INR Bank 800,000 64.95 51,960,000.00 76000.00
If you see the example then you realize that on 15 Jun there was a notional loss.
Keeping this in mind we did not transfer the USD funds to our INR Bank.