We are in the process of migrating over from QBO to NetSuite and I’m not too sure how revaluations work. Can anyone please tell me what are the processes I’m supposed to follow each month, how do I do revaluations, etc.?

Thank you!

Rookie Asked on November 20, 2020 in Accounting.
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2 Answer(s)

What is it you are revaluing?

You could search SuiteAnswers for the month end close process.


Beginner Answered on November 23, 2020.
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The revaluations that you manually run every month are the open AP/AR and cash balances.  Check out “Revaluation of Open Currency Balances” SuiteAnswer Id: 14972.  The other revaluations like rounding and differences between source transaction and the payment transaction, happen automatically in the background. “Foreign Currency Revaluation” SuiteAnswer Id: 14964 is a good place to start for a general overview, but you’ll need to go several levels of links deep to get a full understanding.

Intermediate Answered on November 27, 2020.
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