Regarding the conversion of the consolidated financial reports to USD currency when the base currency of the parent subsidiary is INR, by standard NetSuite does not support such a functionality. The ability to allow the parent subsidiaries to have more than one reporting currency is currently logged as an enhancement in the voting stage [#122522].
As a potential workaround, we can achieve USD consolidation by creating a dummy US subsidiary that would serve as the parent of the current Indian parent-subsidiary. However, it’s worth mentioning that the current account provisioning is to be considered and such a decision must be taken at the time of subsidiary setup in the initial implementation stage.
Since we are delving into the customization of standard financial reports, it’s essential to carefully weigh the consequences of such customization, particularly because it involves manipulating the standard calculations in NetSuite, which can be a complex and intricate process. We could export the report as an Excel/CSV file easily and manually perform the necessary calculations to convert the INR figures into USD. While this method involves more manual work, it can be a practical solution given the complexities associated with customizing standard NetSuite calculations for currency conversion.