Calculating Consolidated Exchange Rates in NetSuite

Consolidated Exchange Rates are used to translate financial data across subsidiaries with different base currencies. 

Rate Types Used: 

1. Current Rate: Exchange rate at the end of the period (used for assets/liabilities). 
2. Average Rate: Weighted average of transaction rates (used for income statement). 
3. Historical Rate: Weighted average for equity accounts  

Automatic Calculation: 

1. Go to: Lists > Accounting > Consolidated Exchange Rates. 
2. Click “Calculate”: 
3. NetSuite will auto-calculate rates for all accessible subsidiaries. 
4. This can also be done via the Period Close Checklist  

Manual Editing: 

1. Only allowed for direct parent-child subsidiary relationships. 
2. Useful for aligning historical financials with pre-NetSuite systems  

Reporting Impact: 

1. Financial reports use these rates based on: 
2. Account’s General Rate Type. 
3. Period and Subsidiary Context selected in the report. 
4. Saved searches allow specifying which rate type to apply