Withdrawal of FIFO calculation postings in the NetSuite system

Settlement of exchange rate differences on cash is an important aspect and obligation for taxpayers. Exchange rate differences are determined using the FIFO method by calculating the valuation difference in PLN between the inflows on the foreign currency account and the payments made from this account.

In the latest article from our “Tips & Tricks” series we share a practical guide with two variants of the procedure for withdrawing FIFO calculation postings in the Oracle NetSuite Polish Localization Package.

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Entering a purchase transaction with accounting for output and input VAT in the NetSuite system