Currency Revaluation Transactions
Currency revaluation is a system-generated transaction that records the impact to base currency valuation due to exchange rate fluctuations. NetSuite generates several types of currency revaluation transactions. The type is displayed in parentheses at the top of the transaction record.
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Unrealized Gain/Loss – These currency revaluation transactions result from the Month End Currency Revaluation process. This process revalues open currency transactions and foreign currency denominated balance sheet account balances and requires the Currency Revaluation permission. If you run revaluation again in the same period, these transactions are not deleted. Instead, additional currency revaluation transactions are created as needed to reflect any changes. For details, see Revaluation of Open Currency Balances.
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Reversal of Unrealized Gain/Loss – These currency revaluation transactions reverse the Unrealized Gain/Loss transaction from the previous month-end process. They post the first day of the period after the Unrealized Gain/Loss transaction. These transactions cannot be edited or deleted. However, if you edit or delete the associated month–end revaluation, the reversal is automatically updated or deleted.
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Realized Gain/Loss – These currency revaluation transactions record the variance due to exchange rate changes between the initial values of transactions (source transactions) and their values upon closure or payment. You cannot delete these currency revaluation transactions. However, NetSuite may automatically delete previous currency revaluation transactions if changes on the source transactions alter previously posted gain or loss. Prior to 2021.1, realized gain/loss was posted with the payment transaction and shown on its GL Impact page. You can see the realized gain/loss on the GL Impact subtab of the payment transaction for transactions that were applied or paid before 2021.1. For more information, see Accounting for Fluctuation in Exchange Rates for Closed Transactions.
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Rounding Gain/Loss – This type of currency revaluation transaction is created when a payment or credit is applied to a source transaction and a difference occurs due to the rounding of amounts. You cannot delete these transactions. However, NetSuite may automatically delete previous currency revaluation transactions if changes on the source transactions alter previously posted gain or loss. For more information, see Rounding Gain/Loss.
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Base Currency Adjustment – This type of currency revaluation transaction is created as part of the Month End Currency Revaluation process. The base currency adjustment equalizes foreign currency and base currency account balances and eliminates the continuous revaluation and reversal of residual amounts. If you run revaluation again in the same period, these transactions are automatically deleted and created again if appropriate. For more information, see Residual Base Currency Balances and Base Currency Adjustments.
To view currency revaluation transactions, go to Transactions > Financial > Revalue Open Currency Balances > List. Currency revaluation transactions have two subtabs: Details and GL Impact. The Details subtab for unrealized gain/loss transactions includes additional subtabs. For details, see Revaluation Record Details.
If you use the Currency Exchange Rate Types feature, your currency revaluations use the default currency exchange rate type. For more information, see Currency Exchange Rate Types.
You can edit currency revaluation transactions only when the transaction period is open. Editing for most currency revaluation transactions is limited to the Memo field and fields in the Classification group. For rounding and realized gain/loss, however, you can also edit the Posting Period. You can search for currency revaluation transactions by Memo field and classification values.
The currency revaluation fields are described in the following table.
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Field |
Description |
|---|---|
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Posting Period |
The accounting period in which the revaluation is posted. |
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Transaction Number |
The system-generated number for this currency revaluation. |
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Ref No. |
The reference number for this currency revaluation. |
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Subsidiary |
The subsidiary for the revaluation. |
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Accounting Book |
The accounting book for the revaluation. This field is included only when the Multi-Book Accounting feature is enabled. |
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Memo |
Enter a description of the revaluation transaction. You can search for transactions by Memo field values. |
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Currency |
The base currency of the subsidiary. |
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Total Variance |
The net gain or loss amount resulting from the revaluation. The amount is calculated from the values shown in the Details subtab. The accounts affected are shown in the GL Impact subtab with amounts. |
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Created From |
A link to the transaction which triggered the currency revaluation. This field is included only in currency revaluations of the Realized Gain/Loss and Rounding Gain/Loss types. |
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Source Transaction |
A link to the original posting transaction. This field is included only in currency revaluations of the Realized Gain/Loss type. |
The default accounts for posting currency revaluation transactions are listed in Foreign Currency Revaluation. If you use the Foreign Currency Variance Mapping feature, the posting accounts may be different. For more information, see Foreign Currency Variance Mapping and its subtopics.