The default exchange rate for a transaction is based on the currency selected on the related entity (such as customer or vendor) record and the transaction date. This default is the rate in the Currency Exchange Rates list for the selected currency effective as of the transaction date. If you want to use an exchange rate other than the default, you may be able enter this other exchange rate directly on the transaction record.
This action may be more appropriate for purchase transactions than for sales transactions.
If you use the Currency Exchange Rate Types feature, you can directly set only the default currency exchange rate type.
To manually set the exchange rate on a transaction:
On the transaction form, in the Exchange Rate field on the Items subtab, enter a new exchange rate between this transaction's base currency and foreign currency.
The exchange rate is the number of base currency units that equal one foreign currency unit. For example, if you want to set the value of a Japanese yen to 0.0093 U.S. dollar, you would enter 0.0093 in the Exchange Rate field.
You can enter a number with up to 15 digits to the left of the decimal or up to 8 digits to the right of the decimal.
If you do not have the Currency Exchange Rate Integration feature enabled, a popup window opens, asking if you want to change the exchange rate on the currency record. You can:
Click OK to update the exchange rate for this currency on the currency record.
Click Cancel to apply this exchange rate to only this transaction.
Complete the remaining fields.
If you do not set the exchange rate on a transaction, NetSuite uses the exchange rate in effect on the date that you selected on the transaction form.
Exchange Rates on Reports
Exchange rates displayed on reports are rounded to 2 decimal places, but the complete exchange rate from the source transaction is used to calculate the currency conversion amounts. For most reports, you can drill down from the report to the source transaction to view the complete exchange rate.