Can NetSuite handle IFRS 18 requirements to split out foreign exchange gains/losses

AI generated answer (using internal Slack threads):

Based on the conversations, it appears that NetSuite does have the capability to handle foreign exchange gains/losses and can be configured to meet IFRS 18 requirements. This can be achieved through the use of Foreign Currency Variance Posting Rules which allow for the booking of foreign gain/loss to P&L instead of CTA (cumulative translation adjustment). In the context of a subsidiary where the functional currency doesn't match the parent sub, NetSuite provides a standard functionality/period close management process. There is a step in closing called dFX Revaluation, which revalues everything. However, it's important to note that the "eliminate intercompany transactions" setting on an account is not a panacea, unless you are doing proper arms-length transactions (or advanced intercompany journals) EVERY time. For transactions involving the transfer of funds in foreign currency from one bank to another, NetSuite can record a realized foreign exchange gain or loss. However, it's recommended to use the bank FX rate for the journals. At the end of the month, NetSuite will still revalue everything to the last day of the month rate but your bank reconciliation will be easier. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******