Consolidated Exchange Rates
If you use NetSuite OneWorld and have multiple base currencies, NetSuite maintains a page of consolidated exchange rates at Lists > Accounting > Consolidated Exchange Rates. Consolidated exchange rates ensure that currency amounts translate properly from child to parent subsidiaries for consolidated reports. The page includes consolidated exchange rates between the base currencies of each subsidiary and its parent or grandparent subsidiary for a specified accounting period.
NetSuite creates initial consolidated exchange rates when associated subsidiaries and accounting periods are created. The initial values are derived from currency exchange rates in effect at the time. You can view these currency exchange rates at Lists > Accounting > Currency Exchange Rates.
You should update consolidated exchange rates at the end of each accounting period, as part of period close tasks. Your user role must include the Currency permission at the Full level to work with consolidated exchange rates.
A separate list page enables you to maintain distinct budget exchange rates between child and parent subsidiaries for use in the budgeting process. See Budget Exchange Rates.
For more details about consolidated exchange rates, see the following help topics:
For information about how consolidated exchange rates are used in reports and searches, see:
For an in-depth discussion of consolidated financial statements, see OneWorld Financial Statements.
Organizations that budget in subsidiary-specific currencies can use a separate Budget Exchange Rates table to translate budget amounts for consolidated reporting purposes. This table functions in the same manner as the Consolidated Exchange Rates table, but can store different rates. See Budget Exchange Rates.