Know how to record payment for an Invoice deposited in a Bank Account with Different Currency

Posted by CuriousRubik on 29 Jul, 2014

In NetSuite Payment is not allowed in any currency other than what is set on the customer record, but on a scenario where a Customer currency is different from a Bank Account the following steps will work as a solution.


  • Customer currency is US dollars, the Invoice Amount is 100.00
  • Foreign currency bank account is SG dollars, exchange rate used on the date of payment deposit = .64935
  • Accept Payment for the invoice amounting to USD100.00
  • Ensure that the UnDeposited Funds button is marked to enable the user to later deposit the payment to the bank account.
  • The above payment will be deposited to the SGD Bank account through the Make Deposits page.


  • Open the Invoice which needs to be paid
  • Click On Accept Payment
  • On Accept Payment, check mark the ‘Undep. Funds’ button and ‘Save’
  • Navigate to Make Deposits > Transactions > Bank
  • Select the Foreign Currency Bank(SGD Bank)
  • Notice the exchange rate, which might be different from the date of payment (Any exchange rate difference is accounted by NetSuite under the Unrealized Matching Gain/Loss)
  • Under payments tab, enter the SGD amount and mark the payment of the related Invoice and save.

Topics: Accounting, ERP

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