Transactions in Foreign Currency

Transactions can have amounts in currencies other than the Philippine Peso (PHP). If a foreign currency is used, all Philippines documents that use foreign currency, printed or sent by email, include a Tax Summary that lists the tax calculation and corresponding currency amounts.

In the following sample of a tax summary:

• The Tax Summary header has the exchange rate in parenthesis ().

  If a payment transaction includes two or more invoices, the exchange rate is hidden.

• The first column lists the VAT details.

• The second column has the amounts in transaction currency.

• The third column has the amounts in base currency which is computed using the exchange rate.

  If you are using a OneWorld account, the base currency is sourced from the customer's primary subsidiary. If you do not have a OneWorld account, the base currency depends on the company information.

The Exchange Rate field in the Accounting subtab indicates the exchange rate that each transaction applies. You can add foreign currencies in the Currencies record list.

Printing Philippines Documents with Foreign Currency

Printing sales invoices, billing statements, credit memos, and other supported Philippines document types is a native feature of NetSuite. To learn more, see the following help topics:

• Printing an Invoice

• Printing a Customer Credit Memo

The Philippines Localization SuiteApp enhances the printing capability by providing additional fields to support compliance or common business requirements. To learn more, see the following help topics:

• Printing Philippines Localization Transactions

• Transaction Form Mapping

• Customizing PDF/HTML Templates of Philippines Documents

Sending Philippines Documents with Foreign Currency by Email

Perform any of the following actions to send a Philippines document by email:

• Select Save & Email from the Save menu as you complete or edit a transaction.

  Save & Email verifies that the To Be E-Mailed box is checked and the field contains an email address. The box and field are located on the Communication > Messages subtab of the transaction record.

• Go to the Communication > Messages subtab, check To Be E-Mailed to send a transaction to one or more specific email addresses.

• Select Email from the Actions list to send a saved transaction by email in view mode.

To learn more, see Emailing Transactions.

Related Topics

• Multiple Currencies
• Customers and Multiple Currencies

General Notices