The quick answer
Go to Transactions > Financial > Revalue Open Currency Balances. On the Month End Currency Revaluation page, choose the Posting Period, the Subsidiary, and an Account Type such as Accounts Payable, keep the accounts you want marked Include, and click Save. The run processes in the background. Follow it on the Foreign Currency Revaluation:Status page with Refresh, then open the Currency Revaluation it posts. Each open foreign-currency bill shows its gain or loss at the period-end rate, and the Total Variance posts to Unrealized Gain/Loss. Nothing gets paid or closed.
The screenshots show sample data. Person and operating-company names are fictional.
Before you start
This example is a September close for a US subsidiary, Harbor Lane Holdings : Harbor Lane US, whose base currency is US Dollar. Two vendor bills are still open in foreign currency:
- 32,000.00 euro, booked at 1.0845
- 12,500.00 pounds, booked at 1.2718
Their dollar values in the ledger still reflect those booking rates. By September 30 the euro is at 1.1127 and the pound at 1.2493, so Accounts Payable in dollars is off. Revaluation restates the open balances at the period-end rates.
You'll need:
- Multiple Currencies and Accounting Periods in use, and a posting period that's open for posting.
- Exchange rates effective on or before the last day of the period.
- The Currency Revaluation permission at Create level or higher.
- An Unrealized Gain/Loss account, or foreign currency variance mapping if your account sends variances elsewhere.
With Multi-Book Accounting, revaluation runs separately for each accounting book, so check which book you're in.
01. Check the month-end exchange rates
Open Lists > Accounting > Currency Exchange Rates. With base currency US Dollar, Euro is 1.1127 and British pound is 1.2493, both effective 09/30/2026. Each rate is dollars per one unit of the foreign currency. With no later rate inside September, these are the rates the revaluation will use, so fix them here first if they're wrong.
02. Review the open foreign-currency bills
Open Transactions > Payables > Enter Bills > List. Two bills are open in foreign currency:
- Volta Kitchenworks GmbH, Euro, €32,000.00, Amount 34,704.00 (rate 1.0845)
- Ashcombe Textiles Ltd, British pound, £12,500.00, Amount 15,897.50 (rate 1.2718)
Pinecrest Hardware Supply's bill is in US Dollar, the subsidiary's base currency, so it has nothing to revalue.
03. Set up the revaluation run
Open Transactions > Financial > Revalue Open Currency Balances. The page is titled Month End Currency Revaluation.
- Choose Posting Period Sep 2026.
- Choose Subsidiary Harbor Lane Holdings : Harbor Lane US. Currency fills in as US Dollar, the subsidiary's base currency, and you can't change it.
- Choose Account Type Accounts Payable. The account list narrows to Accounts Payable and Accounts Payable : Accounts Payable - Trade, both marked Include.
Only accounts marked Include are revalued. Include Children would extend the run to the subsidiary's child subsidiaries. Leave Match Source Classification off unless you need revaluation lines by classification. With it on, every source transaction needs values for all required classifications, including department, class, location, and any custom segments with GL impact.
04. Submit the run and follow it to Complete
Click Save. The run goes into the background and the Foreign Currency Revaluation:Status page opens. Run 24 for Harbor Lane US is Not Started, 0.0%.
Click Refresh. Run 24 is Complete, 100.0%, with Transactions 1. That's one Currency Revaluation transaction covering both bills.
05. Read the gain or loss per bill
Click the Transactions count, 1. The results list the revaluation for Sep 2026 with Amount -621.15.
Open it. It's a Currency Revaluation (Unrealized Gain/Loss) for Harbor Lane US, Posting Period Sep 2026. On Details > Open Payables:
- The euro bill: Transaction Exchange Rate 1.0845, Ending Exchange Rate 1.1127, Balance -32,000.00, Gain/Loss -902.40.
- The pound bill: 1.2718, 1.2493, -12,500.00, Gain/Loss 281.25.
- Prior Gain/Loss is 0.00 for both, since this is their first revaluation, and Total Variance is -621.15.
Check the result
- Euro bill: -32,000.00 × (1.1127 − 1.0845) = -902.40.
- Pound bill: -12,500.00 × (1.2493 − 1.2718) = 281.25.
- Total Variance: -902.40 + 281.25 = -621.15, a net unrealized loss.
The math is Balance × (Ending Exchange Rate − Transaction Exchange Rate). Payables carry a negative balance, so a rising rate is a loss. The euro bill now costs 902.40 more dollars to settle, and the pound bill costs 281.25 less.
Net Gain/Loss is Gain/Loss minus Prior Gain/Loss. Prior Gain/Loss is 0.00 here, but earlier revaluations and their reversals feed into it, so don't assume it stays 0.00 in later months.
06. Check the GL impact
Open GL Impact. Unrealized Gain/Loss is debited $621.15. Accounts Payable : Accounts Payable - Trade is credited $902.40 for the euro bill and debited $281.25 for the pound bill.
The total goes to Unrealized Gain/Loss unless foreign currency variance mapping sends it elsewhere. NetSuite reverses this entry on the first day of the next period with a separate system-generated transaction. The bills keep their original booking rates, and October's revaluation works out a fresh valuation at the October rate. Realized gain or loss is a different thing. It's calculated when a payment or credit is applied to the bill, using the booking rate and the rate on the payment or credit.
Common questions
Which exchange rate does month-end currency revaluation use?
The rate effective on the last day of the posting period you pick. For Sep 2026 that's the September 30 rates, 1.1127 for the euro and 1.2493 for the pound. If you run it before the period ends, NetSuite uses the latest rate available, not a future month-end rate, so run it again once the final rates are in.
How is unrealized gain or loss calculated on an open foreign-currency bill?
Balance × (Ending Exchange Rate − Transaction Exchange Rate), using the bill's open foreign-currency balance. The euro bill is -32,000.00 × (1.1127 − 1.0845) = -902.40. The pound bill is -12,500.00 × (1.2493 − 1.2718) = 281.25.
Why is the Total Variance negative?
Because the losses outweigh the gains. The euro rose, so the euro bill now takes 902.40 more dollars to pay, while the pound fell and saves 281.25. Net, Accounts Payable in dollars went up by 621.15, which is a loss, so NetSuite debits Unrealized Gain/Loss.
Where do I check whether a revaluation run finished?
On the Foreign Currency Revaluation:Status page that opens after Save. Click Refresh until the run shows Complete. Then click its Transactions count to open the Currency Revaluation it posted.
What does Account Type do on the Month End Currency Revaluation page?
It narrows the account list to one type, so the run only covers those balances. Accounts Payable left the two A/P accounts, and only accounts marked Include get revalued. Pick another type, or none, to cover receivables or other foreign-currency accounts.
What is Prior Gain/Loss, and does NetSuite reverse the revaluation next month?
Prior Gain/Loss is unrealized gain or loss already recognized for that balance by earlier revaluations, and Net Gain/Loss is what's left after subtracting it. It's 0.00 here because this is the first run. NetSuite does reverse the entry, with a separate transaction on the first day of the next period, and October's run then values the bills at October's rate.