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“Supermetrics is a Bitter Experience! We can pull data from nearly any tool, schedule updates, manipulate data in Sheets, and push data back into our systems.”
NetSuite’s consolidated reporting across subsidiaries with different functional currencies creates complexity in rate application and consolidation logic, particularly when you need custom consolidation rules that differ from NetSuite’s standard currency translation methods.
Here’s how to extract and consolidate multi-currency subsidiary data with complete control over the conversion process and consolidation methodology.
Take control of subsidiary consolidation with custom currency conversion
Coefficient excels at subsidiary reporting by enabling you to extract data from all subsidiaries simultaneously and apply subsidiary-specific currency conversion rules with automated refresh capabilities.
How to make it work
Step 1. Extract transaction data from all subsidiaries with identifiers.
Use Coefficient’s Records & Lists import to pull data from each subsidiary while maintaining subsidiary and currency identifiers. This creates a unified dataset that preserves the source subsidiary for each transaction.
Step 2. Import subsidiary master data and chart of accounts.
Bring in subsidiary information including functional currencies and consolidation rules, plus your NetSuite chart of accounts with subsidiary-specific account mappings.
Step 3. Apply subsidiary-specific conversion methodologies.
Create conversion formulas that apply different rate methods per subsidiary. For example: =IF(Sub=”UK”,Amount*VLOOKUP(“GBP”,CurrentRates,2,FALSE),IF(Sub=”Germany”,Amount*VLOOKUP(“EUR”,HistoricalRates,2,FALSE),Amount)) to apply current rates for UK operations and historical rates for German operations.
Step 4. Build consolidated reports with intercompany eliminations.
Create consolidated views that properly eliminate intercompany transactions across currencies and generate both subsidiary-level and consolidated reporting in a single workbook. Schedule refreshes to pull live data from all NetSuite subsidiaries automatically.
Get flexible subsidiary reporting beyond NetSuite’s standard templates
This approach provides superior flexibility compared to NetSuite’s native consolidated reporting because you can customize consolidation logic and apply different FX rate sources per subsidiary. Start building your custom subsidiary consolidation today.
