The NETSUITE.XELTO.PL website has been moved to a new address: ERP.XELTO.COM

FIFO

FIFO (First-In, First-Out) is an automated solution for Oracle NetSuite used to value foreign currency cash balances in bank accounts. The system automatically values currency outflows based on the order in which funds were deposited, comparing FIFO rates with the average rates of the National Bank of Poland (NBP) to determine foreign exchange differences. The solution fully automates the process of accounting for foreign currency transactions and generating accounting documents.

Fill out the form

Młoda kobieta z blond włosami i okularami czyta dokument przy biurku z komputerem.

Advantages of the solution

Through the automation of the foreign currency cash valuation process, the FIFO solution for Oracle NetSuite ensures accuracy, time savings and full compliance with accounting regulations, eliminating manual calculation errors and the risk of duplicate valuations.

Full automation

Automatic FIFO currency valuation without unnecessary manual work.

Increased work efficiency

Automatic generation and posting of Journal Entries with FIFO valuations.

Security

Built-in safeguards against duplicate valuations and full control over transaction history.

Legal Compliance

Compliance with foreign currency valuation requirements.

Time savings

Elimination of manual currency revaluation and accounting entries.

Schedule a Consultation

Let’s discuss how NetSuite can help streamline and optimize your business operations.

Thank you! You have successfully sent the form! We will reach out to you soon.

Ups! Coś poszło nieprawidłowo z wysyłką formularza. Spróbuj jeszcze raz.

Legal basis

The FIFO solution for the valuation of cash on bank accounts operates in accordance with Article 34, paragraph 4, points 1-3 of the Law on Accounting and allows for the valuation of cash outflows using the "First-In, First-Out" method.