what steps do netsuite take to calculate the customer balance?

AI generated answer (using internal Slack threads):

NetSuite calculates the customer balance based on the transactions associated with the customer. Here are the steps involved: 1. NetSuite first identifies all the transactions associated with the customer. These transactions can include sales orders, invoices, cash sales, customer payments, credit memos, and customer refunds. 2. For each transaction, NetSuite checks the currency of the transaction. If the transaction currency is different from the customer's currency, NetSuite converts the transaction amount to the customer's currency using the exchange rate at the time of the transaction. This is known as the spot rate. 3. NetSuite then sums up all the transaction amounts (in the customer's currency) to calculate the total customer balance. 4. If you want to see the customer balance in the company's currency, you can add the 'Amount Remaining (Foreign)' field to your search report. This field shows the remaining amount of the transaction in the company's currency. 5. If the customer's currency is different from the company's currency, NetSuite converts the customer balance to the company's currency using the current exchange rate. Please note that the consolidated exchange rate is not used in this calculation, as it is within the same subsidiary. The consolidated exchange rate is used when consolidating financial reports from multiple subsidiaries that use different currencies. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******