NetSuite surely can change the currency types but you have to prove your business case to them, also they will indemnify themselves from any issues arising from this. When you change the functional currency you have to zero out all the transaction in that subsidiary move all the transactions in new functional currency to a new subsidiary and close the old one. Due to consolidated exchange rate this action is quite cumbersome and tricky. I got to know what are you doing otherwise whole GL will be a mess.

@Asad My company went through this process last year in preparation for corporate re-structure and while it was indeed cumbersome and tricky, it is well documented by NetSuite and they have seem a few customer do this. As for consolidation rate, that is where it gets the most tricky because (I presume) when you "re-org" your structure, you will be creating new consolidation relationships and that generates new consolidation rates. This impacts your historical reporting so that is why NetSuite wants to indemnify themselves. You can resolve this by calculating what those new consolidation rates should have been for the historical periods, so that your historical consolidated report remains the same. Bottom line - it's doable, its the best option out there at the moment, and you will need your accounting stakeholders to participate fully.

@suitetastic - Thanks a lot for letting me know. The situation is exactly similar for us. How long did it take to re-structure ?

@Asad for one instance it took about 2 - 3 months because quite a few years historical data was involved and another one was easy about 2-3 weeks.

We did, in order, 1) subs re-structuring 2) Mulit-book enablement and HTP 3) ARM adoption and 4) ASC 606 adoption with Full Retrospective. While doing other corporate/board requirements.

Thanks guys

1) Yes you will always have the primary book and when you configure the secondary books, you can decide which subsidiaries the secondary books apply to. One subsidiary can have more than 2 books. 2) Once the subsidiary books are configured and activated, you will have a new transaction type - book specific journals. This is the only transaction type that allows you to specific G/L impact to just one book. Additionally, all upstream transactions will now have multi-book impacts. For example, a bill will always post to both books for a subsidiary. You cannot limit the transaction's G/L impact. For amortization schedules and revenue schedules/plans, you can dictate how the schedules/plan recognize exp/rev differently from the primary book.

@suitetastic - Thanks a ton! we have got Netsuite partners to implement it for us, but there is a lot of confusion with regards to features and thus wanted to clear it out. Your answer was very clear, thanks again.

Hierarchy cannot be changed once sub record is created, only Netsuite can do that, need to contact support for that. If no changes in functional currency then moving hierarchy shouldn't effect anything, becasue in the end everything rolls up to the top parent anyway.