This site was built to compliment the existing NetSuite Professionals Slack Community by adding a means for members to easily find answers to common questions and to create a searchable database of those questions and answers.

NetSuite Professionals

we have gains and losses due to exchange rates between USD and CAD.  We currently have a credit for $11.33 sitting as an unapplied amount on a customer payment.  We need to recognize this unapplied $11.33 as a gain on exchange rates.  Any advice on how to do this as a transaction?

If your exchange rates were configured right on your transactions, should have happened automatically

When you applied them against one another

Wellllll lol so here's the thing we discovered today lol.  they haven't been

so we're trying to fix these now and have them correct going forward

Create a new invoice that goes to desired account and then apply it against it?

Will look sketchy as he'll though if that customer asks for a statement

I'm guessing reopening periods is off the table

we're thinking we should use our realized gains/losses on exchange rates account.  the easy part would to just be a journal entry to take it out of AR and put it there, but that still leaves an unapplied amount on our client's payment record