can an account on a consolidated balance sheet get adjusted by the consolidated exchange rate each period even though there are no transactions on that account in the period

AI generated answer (using internal Slack threads):

Based on the conversations, it appears that an account on a consolidated balance sheet can indeed get adjusted by the consolidated exchange rate each period, even if there are no transactions on that account in the period. This is because NetSuite uses three types of consolidated exchange rates: current, average, and historical. Each account is assigned to one of these three general rate types. However, it's important to note that transactions posted to Retained Earnings (RE) are not revalued as far as currency exchange rates are concerned. Even if you use a separate GL account with the same setup as the system RE account, the subsidiary base balance will still be translated using the consolidated historical exchange rates, assuming the parent subsidiary has a different base or functional subsidiary. In the case of a discrepancy between the consolidated exchange rate for a journal imported as part of data migration and a normal journal imported later, it seems that the historical consolidated exchange rate can be manually adjusted. This can be done by navigating to Lists > Accounting > Consolidated Exchange Rates and replacing the historical rate for the relevant period. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******