Hi All,
I'm having an urgent issue, and I can't seem to figure out what the problem is, and neither our bookkeeper nor Netsuite seem to be able to offer any help.
Background: our company had some chaotic leadership in 2024-2025, we're now trying to get back on track, we're trying to finalize our 2024 books and have them reviewed by our accountants. I'm not a bookkeeper, and our bookkeeper is less... than I'd like.
The issue: Most/All bill payments made to Vendors from Jan 1, 2024 to approx May 31, 2024 are appearing in the Netsuite Register as a different amount that what we paid.
I've checked many of the Vendor accounts, and the Bills, and the System Information shows that these accounts/bills were created as CAD and no changes to the currency are recorded.
The Bills have the correct $ amount, entered in CAD.
Initially I thought this was a setup error (we were transitioning frmo Sage to Netsuite around May 2024), but then I realized that the 2024 draft financial statements our bookkeeper gave us in March 2026 had different totals.
Ex Below you can see the amount the Netsuite register shows, with the incorrect amount in yellow, and the correct amounts paid from our bank account in CAD, and received by our Vendor.
In the 2024 Draft Financial statement prepared by our bookkeeper in March, the amount this vendor was paid in 2024 was $84.896.12 CAD; the updated 2024 Draft Financial statement received recently is closer to $105,000 CAD.
| Netsuite | Bank | |
|---|---|---|
| Jan 5, 2024 | $ 10,106.44 | $ 7,486.25 |
| Feb 8, 2024 | $ 3,568.95 | $ 2,643.67 |
| Mar 4, 2024 | $ 30,464.37 | $ 22,566.20 |
| Mar 12, 2024 | $ 4,050.00 | $ 3,000.00 |
| Apr 5, 2024 | $ 13,800.00 | $ 10,000.00 |
| Apr 24, 2024 | $ 6,900.00 | $ 5,000.00 |
| May 22, 2024 | $ 6,850.00 | $ 5,000.00 |
| Jun 10, 2024 | $ 2,000.00 | $ 2,000.00 |
| Jun 25, 2024 | $ 3,000.00 | $ 3,000.00 |
| Jul 17, 2024 | $ 3,000.00 | $ 3,000.00 |
| Jul 29, 2024 | $ 2,000.00 | $ 2,000.00 |
My theory is that somehow the system is applying a foreign exchange rate to the amounts we're entering; we operate in CAD, it sort-of looks like the system is treating the amounts entered as USD and converting to CAD.
However, I'm not confident that's the case (the rate of the change is sometimes too high or too low to be the USD to CAD rate). So it may be something else entirely.
I think our current bookkeeper may have made some change when he was correcting some issues in the 2024 financials, and I've got a period of 5 days (April 9 - 13) during which that change may have occurred, but I don't really know what I'm looking for in the Audit Trail. He's certain it's not possible; I don't know.
Netsuite have not been terrifically helpful, as both of our reps got laid off in the pst two weeks and the new rep is swamped.
Any suggestions would be really helpful; I've spent hours combing through accounts, registers, bills, audit logs, trying to find something that might be the issue, and I've come up empty.