What is the best practice with regard to this?
Ou...
# generall
Luis
03/22/2023, 11:38 PMWhat is the best practice with regard to this?
Our approvers belong to different subsidiaries with different base currencies. Our POs may be denominated in different currencies as well.
Our custom approval workflow compares the transaction total to the approval limit.
Obviously, we need to convert it to a common currency. Should we use the transaction currency, the employee's base currency or a generic currency such as the root parent's base currency?
How do we convert the amounts dynamically without scripting? I would prefer not to have separate approval fields for each currency.
An example of a "complex" scenario is:
PO transaction currency: GBP
PO base currency: USD
Approver 1: AUD
Approver 2: EUR
a
AI1
03/22/2023, 11:57 PM……This sounds awful.
AI1
03/23/2023, 12:00 AMI would try to make a few custom fields on the transaction and use a WF to post the Amount and currency fields for both transaction and user at each stage. This way you can see what the WF is generating for amounts and user limits at each stage and for each user. Then that would help know how the WF evaluates each amount in each scenario
AI1
03/23/2023, 12:01 AM(Unless maybe you already know all this)
AI1
03/23/2023, 12:02 AMMy gut feeling is to use the base po currency but it depends on how the WF will display the user approval limits (like if it will convert those for you)
r
ragnarsparta
03/23/2023, 12:53 PMI may have the answer. Let me check my recorded sessions as we covered this topic on how NetSuite deals with this content.
l
Luis
03/23/2023, 4:40 PM@ragnarsparta thank you. Appreciate it
Luis
03/23/2023, 4:46 PM@AI1 it looks like the employee record uses the base currency of the employee subsidiary.
The challenge for me is how I'm going to pick up the exchange rate automatically.
I was thinking maybe I'll just create a custom field and use a single currency approval limit field (e.g., root parent base currency which is USD). That way, it's uniform and no conversion is needed.
The transaction then would always be converted to USD. But I'm not sure how to get the current exchange rate from the exchange rate history page.
For example, if the transaction currency is EUR but the subsidiary currency is GBP, I would have to make a conversion from EUR to USD (to be the same as the approval limits).
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