The Multiple Currencies feature lets you create transactions with customers and vendors in currencies other than your company’s base currency.
NetSuite relies on accounting periods to properly post open balance revaluation for multiple currencies at the end of each month. If you currently use calendar months instead of accounting periods, enable the Accounting Periods feature to use the Multiple Currencies feature effectively. See Accounting Period Management.
The following topics, and their subtopics, include instructions for enabling and setting up multiple currencies:
The Multiple Currencies feature includes capabilities that were historically separate features. The Multi-Currency Customers and Multi-Currency Vendors features have been combined in the Multiple Currencies feature. Unless otherwise noted, the topics in this section assume that all three features are enabled. To disable multiple currencies in an account with separate features, you must clear the Multi-Currency Customers and Multi-Currency Vendors boxes before the Multiple Currencies box. You cannot disable these features if there are associated records or transactions.
If the Multi-Currency Customers and Multi-Currency Vendors features are available in your account and not enabled, your customer and vendor records have only one currency.