A company is using the Multiple Currencies feature.
Which account type allows Revalue Open Balance for Foreign Currency Transactions?
A company is using the Multiple Currencies feature.
Which account type allows Revalue Open Balance for Foreign Currency Transactions?
For foreign currency transactions, you cannot revalue open balances for equity and income statement accounts like Cost of Goods Sold, Income, or Expense. The account type that allows revaluation of open balances for foreign currency transactions is Other Current Asset.
D. Other Current Asset. SA#14971
https://tstdrv2640124.app.netsuite.com/app/help/helpcenter.nl?fid=section_N1428933.html
D. Other Current Asset You cannot revalue open balances for equity and income statement accounts: COGS, Expense, Income, Other Expense, and Other Income.