Multicurrency GL Accounts

mkrozonouskimkrozonouski Member Posts: 5
edited 2014-10-24 in Navision Financials
I am trying to find a solution for being able to maintain a GL account in a foreign currency. The transactions would be direct entries to the GL in a different currency and would not come from the sub-ledgers. An example would be accrued payables for multiple currencies. Currently NAV will only revalue transactions coming from the sub-ledgers. Has anyone built a work around or tackled this issue? Can anyone give an explanation as to why NAV would not have this functionality when GP does? I am wondering if it is because NAV expects all transactions to be generated from the sub-ledgers.

Thanks.
Mary

Comments

  • mgmuthamgmutha Member Posts: 55
    Hi,
    You can use Additional Reporting Currency Functionality and Define G/L Account Cart -> Exchange Rate Adjustment = Adjust Additional-Currency Amount.

    Note: You can use only use one additional currency in G/L Entry.
    Manish Mutha
  • julkifli33julkifli33 Member Posts: 1,073
    mgmutha wrote:
    Hi,
    You can use Additional Reporting Currency Functionality and Define G/L Account Cart -> Exchange Rate Adjustment = Adjust Additional-Currency Amount.

    Note: You can use only use one additional currency in G/L Entry.

    this ACY can use for sales?
    i thought it only used for purchase...

    and another question... about rounding problem
    sometimes we and vendor/customer have different rate for currency...
    so can we edit this ACY amount?
  • jglathejglathe Member Posts: 639
    Hello,
    I am trying to find a solution for being able to maintain a GL account in a foreign currency. The transactions would be direct entries to the GL in a different currency and would not come from the sub-ledgers. An example would be accrued payables for multiple currencies.

    this has been discussed occasionally. We have made an Add-On out of it, called Smart IT TransactionCurrency. It does maintain the currency of the transaction in the G/L and in the VAT entries. It is completely transparent to the application, everything works as before, except that the currency and currency amounts are also stored. This also works from a sub-ledger, meaning if you post a sales invoice in CAD, the resulting G/L entries will have the CAD currency code and amounts as well.

    with best regards

    Jens
  • julkifli33julkifli33 Member Posts: 1,073
    jglathe wrote:
    Hello,
    I am trying to find a solution for being able to maintain a GL account in a foreign currency. The transactions would be direct entries to the GL in a different currency and would not come from the sub-ledgers. An example would be accrued payables for multiple currencies.

    this has been discussed occasionally. We have made an Add-On out of it, called Smart IT TransactionCurrency. It does maintain the currency of the transaction in the G/L and in the VAT entries. It is completely transparent to the application, everything works as before, except that the currency and currency amounts are also stored. This also works from a sub-ledger, meaning if you post a sales invoice in CAD, the resulting G/L entries will have the CAD currency code and amounts as well.

    with best regards

    Jens

    hi...how can i get this IT TransactionCurrency?
    is it creating new table to linking to GL entry?
  • jglathejglathe Member Posts: 639
    Hello julkifli33,

    I wrote you a PM.

    with best regards

    Jens
  • jadhittijadhitti Member Posts: 1
    julkifli33 wrote:
    mgmutha wrote:
    Hi,
    You can use Additional Reporting Currency Functionality and Define G/L Account Cart -> Exchange Rate Adjustment = Adjust Additional-Currency Amount.

    Note: You can use only use one additional currency in G/L Entry.

    this ACY can use for sales?
    i thought it only used for purchase...

    and another question... about rounding problem
    sometimes we and vendor/customer have different rate for currency...
    so can we edit this ACY amount?

    Hello,

    I am interested in this tool, how can I get it?

    Thanks,
    Jad
  • jglathejglathe Member Posts: 639
    jadhitti wrote:
    I am interested in this tool, how can I get it?

    Hi Jad,

    Plexada is selling it trough partners. I've sent you a PM.

    with best regards

    Jens
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