how does netsuite convert currencies in an register

AI generated answer (using internal Slack threads):

NetSuite handles currency conversion in a register by using the exchange rate at the time of the transaction. For example, if you have a bank account with a foreign currency, let's say 100 CAD, on the balance sheet, it converts it to USD using the exchange rate at the time the money entered the account. If you transfer the CAD funds to USD after two years, the balance sheet would still reflect the rate of when the money entered, not the rate at the time of the transfer. In a scenario where a customer in NetSuite is set in one currency but pays in a different currency, the difference is recorded as exchange rate differences. You can add the payment currency to the customer record, so the customer will show two currencies. When accepting the payment, select the paying currency and record the correct exchange rate. Apply the appropriate invoice and save. If you check the payment journal, you will see a line for the exchange rate differences. When it comes to handling pricing and costing for multiple currencies, there is no automatic conversion with exchange rate in NetSuite. You need to set up the different currencies on the item itself where you set the USD price. The price needs to be set manually either in the UI or CSV import. If you enter a sales order in Euros, it will not automatically convert the USD price to Euros. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******