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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 period-specific rate overrides require manual updates to currency tables and can be cumbersome to manage across multiple periods and currencies. You need a more flexible approach to period-specific exchange rate management.
Here’s how to implement custom period-specific currency conversion without the hassle of constantly updating NetSuite’s currency tables.
Create flexible period-specific exchange rate management outside NetSuite
Coefficient provides a more flexible approach to period-specific exchange rates through custom rate tables and automated period-based conversion logic.
How to make it work
Step 1. Extract period data with original currency amounts.
Use Coefficient’s Records & Lists or SuiteQL import methods to pull transaction data from NetSuite with period identifiers and original currency amounts. This gives you the raw data needed for custom period-based conversion.
Step 2. Create custom period-specific rate tables.
Build exchange rate tables directly in your workbook that specify different rates for different reporting periods. Structure them like: Period | Currency | Rate, allowing you to specify rates without modifying NetSuite’s currency tables.
Step 3. Build period-based conversion lookup formulas.
Create formulas that apply the appropriate exchange rate based on the transaction’s accounting period. For example: =C2*VLOOKUP(B2&”|”&D2,PeriodRates,3,FALSE) where B2 is the period, D2 is the currency, and PeriodRates contains your custom rate table.
Step 4. Set up automated rate application with audit trails.
Schedule regular refreshes so new transactions automatically receive correct period-specific conversion rates. Create audit reports showing which rates were applied to which periods, and maintain multiple rate scenarios for budget vs. actual or different rate sources. Keep your NetSuite data current while applying your custom rate methodology.
Take control of period-specific currency conversion
This method provides complete flexibility to apply different rate methodologies per reporting requirement while maintaining live connectivity to your NetSuite data and creating clear audit trails. Start building your custom period-based currency conversion today.
