[esmeralda]

Dear fellow NS users,

We are running sales reports (by customer) and customer profitability reports.

all amounts are displayed in the base currency.

We would also like to see the amount in the currency of the customer.

However, when i customize my reports by adding the column with the foreign currency amount, the amount shown is off. way off!

In some case I even have a positive sale amount, but a negative foreign currency amount.

Could someone explain to me how to get the data to be displayed in both the base currency and the foreign currency.

thanks

Esmeralda
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[esmeralda]

RE: sales iin foreign and base currency

I ended up contacting NS support about this.

They are looking into this.

On some reports the “amount (foreign currency)”-field works fine.

but on other reports it does not seem to work at all.

More specifically, for transactions that took place in the base currency, the “amount”-column and the “amount(foreign currency)”-column should be identical. But this is oddly enough NOT the case.

Has anyone else encountered this problem before?

if so, what was the work around?

-Esmeralda-

[Olivier Gagnon NC]

RE: sales iin foreign and base currency

Hmm… I vaguely remember something like this, years ago. My gut feeling is Netsuite stamped it with a “As Designed” stamp at the time, but I really can’t recall the details…

Ok I actually went back and read a few notes from way back when. I think the problem is that the only time Netsuite actually has the foreign currency amount is on the transactions. So when you’re looking at the Customer record, and looking at some “aggegate” fields, like say Amount Due or whatever, these figures simply do not exist in foreign currency, so Netsuite is unable to display them.

I am not sure if you are running into the same problem or not, but hopefully that was insightful to you anyway.

[Nick Horowitz]

esmeralda, what is the currency listed on the entity record that you are using for your login? I think that currency may affect what you are seeing.

[esmeralda]

RE: sales iin foreign and base currency

Originally posted by Nick Horowitz

esmeralda, what is the currency listed on the entity record that you are using for your login? I think that currency may affect what you are seeing.

Nick,

I am not sure what you mean.

Our base currency is ANG. We have transactions in ANG, USD, EUR, XCD, TTD, and some other currencies.

Hence, in NetSuite…

We have customers and vendors in various currencies.

We have bank accounts in various currencies.

We receive bills and make payments (A/P) in various currencies.

We post journal entries in various currencies.

etcetera.

However,…

All the reports are shown in the base currency, which in our case is ANG.

What the executives want, is to see base as well as foreign currencies.

So to each report (standard and ad hoc) I added a column called “amount (foreign currency)”.

We noticed that sometimes this works, and other times it doesn’t.

For example:…

When I run a (customized) balance sheet,

The foreign currency balance of our USD bank accounts is correct.

But the foreign currency balance of our ANG bank account is not.

We suspect that the culprit is that we use our ANG bank accounts to make payments in currencies other than ANG, as we also pay USD vendors from our ANG Bank Account. For some reason NS does not handle this correctly on the reports.

Same is true on sales reports. The amounts shown are simply incorrect.

If my rate is 1 USD = 1.80 ANG

then on my reports a transaction total of 100 USD should display as

amount (base currency) = 180 ang

amount (foreign currency) = 100 usd

However, this is not the case, i.e. the amount (foreign currency) displayed is not $100.

This is very frustrating to say the least.

Especially since I cannot explain the reason for it to the executives.

Esmeralda

[BradB]

RE: sales iin foreign and base currency

I’m not sure what variation you are seeing. Perhaps the difference is based on the date of conversion? i.e. when the transaction was recorded – exch was 1.7 so it will show 106, vs the current exchange of 1.8.

Also – are you using auto updates for exchange? there is also some variation on which exch rate is used, specifically on bills/po’s (although I understand that is more consistant now…).

Anyway – not likely a help, but 2c anyway.

[Author]

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