NBP Exchange Rate Integration
Table of Contents
Overview
Business transactions conducted in foreign currencies are recorded in the books of accounts using the exchange rate published by the National Bank of Poland on the preceding day. Specifically, the average rate announced for the respective currency is applied as of the transaction date.
Exchange Rate Integration Process Flow
This flowchart depicts the automated process of querying the NBP exchange rates from the National Bank of Poland and importing the data as Currency exchange rate records in NetSuite.
Definition of Terms
This section helps the user understand the terminology used by the NBP exchange rate integration. The table below aligns key terms used in both NetSuite and the National Bank of Poland’s API documentation, providing clear definitions and mappings to ensure consistent understanding across both systems.
Term | Description |
|---|---|
Effective Date | The date the exchange rate becomes effective in NetSuite. This date is entered on the NetSuite currency exchange rate record. |
Publication Date | The date when the exchange rate is officially published by the source (e.g. the National Bank of Poland). It may be the same as or earlier than the effective date. |
Foreign Currency | The currency being exchanged for the base currency. It is the numerator in an exchange rate expression. |
Base Currency | The currency against which other currencies are compared. It is the denominator in an exchange rate expression. |
Exchange Rate | The value of one unit of the base currency expressed in terms of the foreign currency. |
Inverted Exchange Rate | The reciprocal of the exchange rate, showing how much of the base currency is needed for one unit of the foreign currency. |
Custom Record: NBP Exchange Rate
This record is used to define the parameters and track the progress of the exchange rate query and import.
Field | Description | Values |
|---|---|---|
Field Group : Primary Information | ||
Effective Date | This is the date set on the Effective Date field of the NetSuite Currency Exchange Rate record. This date is used to determine the date being queried by the NBP exchange rate API. | Date |
Status | The status of the NBP exchange rate integration process. | Field type:List
|
Integration Logs | Recorded notes about the events in the NBP exchange rate integration process. | Long text |
Field Group: Currency Lists | ||
Currencies for NBP Rate Import | Select the foreign currencies that require exchange rate updates from NBP. | |
Currencies for Inverse NBP Rate Import | Select the Currencies for inverse NBP Rate Import. Foreign currencies selected in this list will be imported with the following data:
| |
Field Group: Exchange Rate Tables | ||
Exchange Rate Table A JSON | The resulting JSON data of the Table A query is stored in this field. | JSON file |
Table A Publication Date | The publication date of the exchange rate table from NBP. This is defined as the EffectiveDate in the API’s XML. | Date |
Exchange Rate Table B JSON | The resulting JSON data of the Table B query is stored in this field. | JSON file |
Table A Publication Date | The publication date of the exchange rate table from NBP. This is defined as the EffectiveDate in the API’s XML. | Date |
CSV Import Details | ||
Currency Exchange Rate CSV File | The NBP currency exchange rate CSV File used for the CSV import. | CSV file |
Import Timestamp | This field stores the date and time when the currency exchange rate import has been completed. This concludes the successful execution of the NBP exchange rate integration. | Date and Time |
Exchange Rate CSV Import Task ID | The Task ID of the CSV Import job responsible for importing the currency exchange rates. | Long text |
JSON and CSV Import File Name Syntax
CSV Import File : NBP_CURRENCY_EXCHANGE_RATE_{NBP exchange rate record ID}
JSON File : Table_{'a' or 'b'}_{publication date}
Manually Running the NBP Exchange Rate Integration for a specific day
When the user needs to download the currency exchange rates for a specific date from the past.
To run the exchange rates update manually:
Go to Lists> NBP Exchange Rate > Click New..
Go to the Parameters field group.
Define the Effective Date
Input a value to get the exchange rates for a specific effective date.
Select the Currencies for NBP Rate import.
(Optional) Select the Currencies for inverse NBP Rate Import. Foreign currencies selected in this list will be imported with the following data:
Base Currency = Selected foreign currency
Foreign Currency = Polish Zloty
Exchange rate = 1/Published NBP Exchange rate
Click Save.
Click Update Exchange Rates. Wait for the banner to display that the process has been completed.
Review the updated currency exchange rates by navigating to Lists > Accounting > Currency Exchange Rates.
Scheduled Execution
For instructions regarding the scheduled run of the NBP exchange rate integration, see https://staria.atlassian.net/wiki/spaces/SPLS/pages/839778415 .
Overview
Business transactions expressed in foreign currencies are recognized in the books of accounts as of the day they are performed at the following exchange rates the average announced for a given currency by the National Bank of Poland on the day preceding that day.
This feature only supports subsidiaries where country is in Poland and base currency is PLN.
FX Rates Update Manual Run
To run the exchange rates update manually:
Go to Setup > Customization > [STA] FX Rates Update Manual Run
The user will be redirected to the [STA] Update FX Rates SS Script Deployment record.
Edit the deployment record.
Go to the Parameters subtab.
Define the Effective Date, This will determine the effective date of the published exchange rate when the FX rate script gets the exchange rates for the selected currency.
Input a value to get the exchange rates for a specific effective date.
Keep the effective date field empty to check for the most recent published FX rate.
Check any currency checkboxes (NBP, MNB, ECB) if these parameters only apply to specific currencies. Leaving all checkboxes unchecked will apply the parameters to all enabled currency exchange rate integrations in [STA] FX Rates Update Preferences.
Select the Get Exchange Rate: You can choose between two options on which date the FX rate will be based.
Before Effective Date - exchange rates published a day before the effective date will be used. If the day before falls on a weekend, published rates from the previous Friday will be used.
On or Before Effective Date - exchange rates published on the day or a day before the effective date will be used. If the day before falls on a weekend, published rates from the previous Friday will be used.
Click Save and Execute.
Refresh the Scheduled script status until the execution has been completed.
Review the updated currency exchange rates by navigating to Lists > Accounting > Currency Exchange Rates.
For instructions regarding the scheduled update, see Script Deployment for Exchange Rate Integration.
Some banks only support getting fx rate data on or before 90 days from the present day.
Send an email to support@staria.com for questions or concerns regarding this topic.
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