Currency Record Fields for Currency Exchange Rate Integration

The following fields on the currency record may be displayed when the Currency Exchange Rate Integration feature is enabled in your account. To view or edit a currency record, go to Lists > Accounting > Currencies and click the Name link.

Field	Description
Automatic Update	By default, the Automatic Update box is checked when the Currency Exchange Rate Integration feature is enabled in your account. The check indicates that standard ISO exchange rates are automatically updated by the system. For more information, see Currency Exchange Rate Integration. If you do not want an update to occur for a specific currency, you can clear the Automatic Update box. If this box is cleared for a base currency, the automatic updates that occur with that currency are only those updates from source currencies to that base currency. For example, if GBP is a base currency and does not have automatic update enabled on its currency record, no updates occur except with source currencies that consider GBP a base currency. If GBP is the source currency in the exchange rate, no exchange rate updates occur. Note: NetSuite prohibits non-standard ISO codes when the Currency Exchange Rate Integration feature is enabled, even if Automatic Update box is not checked for a specific currency. Non-standard ISO codes significantly slow down the exchange rate update process.
Update Time Zone	This field is displayed only for base currency records. Select the time zone to use to determine the time of daily exchange rate updates. The default is U.S. Eastern time. Rate updates occur at 6 a.m. in the time zone you select.
Is Anchor Currency	This field is displayed only when the Use Triangulation Calculation by NetSuite accounting preference is checked. A check in this box indicates that the currency can be used as the intermediate currency when NetSuite calculates the exchange rate for two cross-currency pairs. This field is read-only. If this currency is a designated anchor currency and has been used in an exchange rate calculation, you cannot delete this currency. For more information about triangulation and anchor currencies, see Methods for Obtaining Exchange Rates and Anchor Currencies.

Field

Description

Automatic Update

By default, the Automatic Update box is checked when the Currency Exchange Rate Integration feature is enabled in your account. The check indicates that standard ISO exchange rates are automatically updated by the system. For more information, see Currency Exchange Rate Integration.

If you do not want an update to occur for a specific currency, you can clear the Automatic Update box. If this box is cleared for a base currency, the automatic updates that occur with that currency are only those updates from source currencies to that base currency. For example, if GBP is a base currency and does not have automatic update enabled on its currency record, no updates occur except with source currencies that consider GBP a base currency. If GBP is the source currency in the exchange rate, no exchange rate updates occur.

Note:

NetSuite prohibits non-standard ISO codes when the Currency Exchange Rate Integration feature is enabled, even if Automatic Update box is not checked for a specific currency. Non-standard ISO codes significantly slow down the exchange rate update process.

Update Time Zone

This field is displayed only for base currency records.

Select the time zone to use to determine the time of daily exchange rate updates. The default is U.S. Eastern time. Rate updates occur at 6 a.m. in the time zone you select.

Is Anchor Currency

This field is displayed only when the Use Triangulation Calculation by NetSuite accounting preference is checked.

A check in this box indicates that the currency can be used as the intermediate currency when NetSuite calculates the exchange rate for two cross-currency pairs. This field is read-only.

If this currency is a designated anchor currency and has been used in an exchange rate calculation, you cannot delete this currency.

For more information about triangulation and anchor currencies, see Methods for Obtaining Exchange Rates and Anchor Currencies.

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