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NetSuite requires separate report generation for each entity and manual consolidation processes when dealing with different base currencies. You need automated multi-entity data imports with built-in currency conversion capabilities.
Here’s how to consolidate financial data from multiple NetSuite entities with different base currencies into a single, automatically updating report.
Automate multi-entity consolidation with currency conversion using Coefficient
Coefficient overcomes NetSuite’s limitation of requiring separate entity reports by enabling simultaneous multi-entity data imports with NetSuite automated currency conversion.
How to make it work
Step 1. Import multi-entity data simultaneously.
Use Coefficient’s Records & Lists feature to import financial data from multiple NetSuite subsidiaries at once. Apply filters to segment by entity while maintaining a single consolidated dataset that updates automatically.
Step 2. Create base currency mapping.
Import subsidiary records to create a master entity-currency mapping table showing each entity’s base currency (USD, EUR, GBP, etc.). This becomes the foundation for your conversion logic.
Step 3. Set up automated exchange rate integration.
Import consolidated exchange rates using SuiteQL Query:. This provides all the FX rates needed for multi-entity conversion.
Step 4. Build dynamic consolidation formulas.
Create conversion matrices that automatically identify each entity’s base currency, apply appropriate exchange rates based on transaction dates, convert all amounts to your reporting currency, and handle period-end vs. average rate calculations.
Step 5. Schedule consolidation updates.
Set up automated daily or weekly refreshes to ensure your consolidated reports always reflect current exchange rates and the latest financial data from all entities.
Get real-time consolidated multi-entity financial performance
This automated approach eliminates the time-intensive manual process of exporting individual entity reports and provides a real-time consolidated view of multi-entity financial performance. Start consolidating your multi-entity reports today.
