For multi-currency transactions it's necessary to know the transaction (e.g. invoice, vendor bill) currency, the bank account currency and the base currency of the subsidiary. The following table gives an overview of what is possible and not.
Base currency refers to the base currency of the subsidiary. Foreign currency is any currency that is not the base currency of the subsidiary.
When an account is being selected in Select Account column, this account must be in the same currency as is the transaction (statement) currency. This is a NetSuite limitation - NetSuite only allows to post entries on accounts within the same currency.
|No||Scenario||Transaction Currency||Bank Account Currency||Notes|
|1||Posting a payment||Base currency||Base currency||Possible|
|2||Posting a payment||Foreign currency||Base currency||Possible|
|3||Posting a payment||Base currency||Foreign currency||Not possible, * NetSuite limitation|
|4||Posting a payment||Foreign currency||Foreign currency||Only if the currencies are the same (e.g. an CAD invoice can only be paid on a CAD bank account if CAD is not the subsidiary base currency). NetSuite limitation.|
|5||Using the Payment Difference Reasons functionality||Base currency||Base currency||Possible|
|6||Using the Payment Difference Reasons functionality||Foreign currency||Base currency||Not possible, Zone limitation.|
|7||Using the Payment Difference Reasons functionality||Foreign currency||Foreign currency||Only Payment Discount is supported as a payment difference reason option. Zone limitation.|
* NetSuite limitation related to accepting/making payments in foreign currencies is described on SuiteAnswers article below. Additional postings to "transit" account are needed to cover this scenario.