Since journal entries do not have a “Closed” status unlike Invoices/Bills, it is the standard behavior of the system to continue to revalue these journal entries as if they are still open.
In other words, in the case of transactions like Invoices and bills, the exchange rate variation is considered between the transaction date and the payment date. In the case of Journals, there is no standard ‘Closed’ status. A Journal is considered to be closed by the user when it has been approved and the period has been closed in order to restrict changes. Hence, the system considers it as still open even after approval and period close and continues currency revaluation.
Upon further checking, the ability to Mark a Transaction (Journal) “Closed” or “Cleared” so it won’t be included on the Month End Currency Revaluation is a system limitation and is logged under Enhancement 209882 Transactions > Financials > Revalue Open Currency Balances: Ability to Mark a Transaction (Journal) “Closed” or “Cleared” so it won’t be included on the Month End Currency Revaluation.
Exception:
Journal Entry or a transaction with lines using an Accounts Payable or Accounts Receivable account that is without a customer or vendor is considered a closed transaction by the NetSuite system for currency revaluation. Thus no currency revaluation of unrealized gain or loss is generated when running the Revalue Open Currency Balances in those cases.
The ability for A/R and A/P lines to be included in currency revaluation even with no Customer/Vendor selected is a NetSuite enhancement currently in the voting stage [#701361].
As an alternative workaround, instead of assigning random entities to these Journal lines, we can create dummy entities [Customer/Vendor] solely to populate the name field for these transactions or assign an existing entity to be commonly used for the same.