Enabling the Currency Exchange Rate Integration Feature
When you enable the Currency Exchange Rate Integration feature, all currency records are set to automatically update exchange rates at approximately 6:00 a.m. in your selected time zone. The updated rates reflect the latest exchange rates available as of 6:00 a.m. in your selected time zone. For details about currency records, see Creating Currency Records.
Rates may be affected by time intervals when they are captured and then uploaded to NetSuite. Real time exchange rates are never exact inverses because market rates for currency are directional. NetSuite loads rates specifically in the direction needed for the system and calculates inverse rates only when triangulation is enabled in your account. If you always want the exchange rate inverse to be 1รท the direct rate, you can manually override the rate. For information about adding rates in this list, see Adding Rates to the Currency Exchange Rates List.
If you use the Currency Exchange Rate Types feature, note that rate provider integration works only with the default currency exchange rate type.
To set up automatic currency updates:
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Enable the Currency Exchange Rate Integration feature:
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Go to Setup > Company > Enable Features.
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On the Company subtab, check the Currency Exchange Rate Integration box. (You must first check the Multiple Currencies box.)
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Read and accept the Notice, and click Save.
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Select a rate provider in the Accounting Preferences:
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Go to Setup > Accounting > Preferences > Accounting Preferences.
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On the General subtab, scroll to the Exchange Rate Integration section, and select a Rate Provider.
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Check the Use Triangulation Calculation by NetSuite box if desired. For more information, see Methods for Obtaining Exchange Rates.
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Click Save.
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For any base currency for which you do not want rates automatically updated, go to the Currency record from Lists > Accounting > Currencies and clear the Automatic Update box.
Important:Currency records where the Automatic Update box is dimmed cannot be set for automatic updates. Non-standard ISO base currency records must have a specified time zone and must have the Automatic Update box checked to be automatically updated.
Non-standard ISO codes significantly slow down the exchange rate update process.
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For any base currency for which you want rates updated at a time other than the default, go to the Currency record from Lists > Accounting > Currencies and select a different time zone in the Update Time Zone list.
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If you change the currency record, click Save to accept changes.
If you do not want the prices of some items to fluctuate based on automatic exchange rate updates, you can set up currency-based pricing on Item records. For more information, see Assigning a Foreign Currency Price to a Sales Item.