Netsuite's Budget Exchange Rate

Hi,

 

In this post, we are going to discuss about Budget Exchange Rate, you can read about Consolidated Exchange Rate using this url.

Budget Exchange rates are exchange rate that a company’s financial management uses to draft budgets and establish business objectives.

Businesses with offices in several countries, operating in different currencies, set Budget Reference Rates for calculations between their functional currency and each of the currencies they work with.

How to access Budget Exchange Rate?

To access , go to Lists > Accounting > Budget Exchange Rates.

This table is very similar to Consolidated exchange rates.

There are 2 types of rates:

1. Direct: Sets between child and parent subsidiary , set by user and can be edited by user.

2. Indirect:  Sets between grandchild and grandparent subsidiary, set by system and can not be edit.

 Tables columns contains accounting period, whether the period is closed, the From (child) subsidiary, the To (parent) subsidiary, and exchange rates.

The following exchange rate types are listed in the Budget Exchange Rates table:
1. Average
2. Current
3. Historical

****  To access this table, the Multiple Currencies and Multiple Budgets features must be enabled

Thanks

Netsuite Guru