NetSuite MSD Tip #3 —How to Enable Exchange Rate Editing on Transactions in NetSuite
Having trouble editing the Exchange Rate field on transactions? The fix isn’t obvious; there’s no specific “Exchange Rate” permission in NetSuite. Instead, it’s controlled through the Currency permission.
How to Fix It:
1. Navigate to Setup > Users/Roles > Manage Roles.
2. Select and edit the relevant role.
3. Under Permissions > Lists, set Currency to Edit.
4. Save the role.
Considerations:
1. Changing the exchange rate affects both: Unrealised gains/losses (via Revalue Open Currency Balances) and Realised gains/losses (when payments are applied)
2. Rates can only be edited in open periods unless the role has Override Period Restrictions.
3. If Currency Exchange Rate Integration is disabled, users can override the rate manually.
4. NetSuite doesn’t log system notes for the exchange rate at creation.
Recommendation:
To maintain control, consider building a workflow or script to track changes, or use SuiteQL to compare entered rates against system defaults.
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