[rstack10]

We have uncovered a major flaw in the financial reports used by our organisation within NetSuite.

We operate using multi currency and usually run the reports as Consolidated.

When we do this, the report shows the figure as the Euro rate.

This is explained in better detail in the example below:

Opportunity A : was created for a US Customer in October 2014.

The consolidated exchange rate at this period of time is : 0.788

The Projected total for the opportunity was : $240,000.

When executing the Pipeline report today (April 2016) – the column “Projected Total” is displaying as €189,120.

Currently the consolidated rate for April 2016 is : 0.82 (which is the correct exchange rate for when we are running the report)

This indicates the correct Projected Total for this opportunity should be : €220,800.

Therefore the report figure was incorrect by €31,680.

** Upon further investigation – I clicked edit on the transaction and clicked the “update projected” button.

This updated the transaction exchange rate automatically to today’s rate and resolved the figure displaying the incorrect 2014 Projected Total amount in the report.

I have logged this issue with NetSuite and asked them is there a possible function of refreshing the exchange rate for all transactions within reports.

They said this was an enhancement request : 170563

I am very dissatisfied with the reply and I am sure there is some other organisation using NetSuite that came across this issue too.

If anyone has any advice it would be greatly appreciated.

Possible Solution:

I have tried to create Formula Fields for the report to show current amount (Current Rate : Foreign Amount * Current Exchange Rate)

However, this will not resolve the issue.

The formula only works if the user who created the transaction is not from the same subsidiary as the Customer.

Whereas, if the user created the transaction for their base subsidiary which is not Euros – the Exchange Rate displays as 1.00 so I can never visually see what the rate is.

Example:

I am from Ireland so if I create a transaction for an Irish customer. The rate is 1.00.

Whereas, if I created a transaction for a US customer, the rate is 0.82.

I hope someone can provide further insight or suggestions.
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