As a best practice in Netsuite, before running the consolidated reports we should run the period closing process and close that month.
If the period closing is not processed and checked for the consolidated report, there might be chances for mismatches between the subsidiary report and consolidated reports. That is because, in the period closing, Netsuite runs the consolidated exchanges rates and open foreign currency balances.
We can also run the consolidated exchange rates and Month end currency revaluation without going to the period closing.
- Lists>Accounting>Consolidated Exchange Rates
2. Select the month you want to run the Consolidation and click calculate button.
3. Go to Transaction>Fianancial>Revalue Open Currency Balances to run Month-end Currency Revaluation
4. Select the period and subsidiary to select the for which all accounts the revalue need to be processed.
5. Now check the balances are matching on the subsidiary and consolidated reports.