30

Companies who works with a double ledger : one statutory in EUR (= accounting currency) , one IFRS in USD (= reporting currency).
 
Their mandatory need is to be able to obtain, in real time, a direct valuation in their reporting currency (USD) of all their inputs entered in transaction currency (whichever it might be).
 

Example  : If the transaction currency is GBP, the accounting currency is EUR and the reporting currency is USD, we need to convert GBP to EUR and GBP to USD.
Of course, all foreign currency revaluation processes (customer, vendor and general ledger modules) have to follow the same rule of accounting.

Category: General Ledger
STATUS DETAILS
Completed
Ideas Administrator

Thank you for your feedback.
We released this feature as part of the functionality in Dynamics 365 Finance and Operations version 8.1.  The functionality, referred to as Dual currency, changed how the reporting currency amount is calculated. The system now calcculates the reporting currency directly from the transaction currency. Various subledgers were also updated to track reporting currency amounts.
Please note that this functionality did NOT add support for full multi-ledger, which would allow for additional ledgers assigned to a legal entity. Because this idea is specific to the calculation of the reporting currency, I am marking this as Completed.
Please refer to the following link for more information:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/dual-currency
 
Sincerely,
Kristi Slininger, PM
Microsoft.

Comments

M

I would assume there are no updates about this topic?
We have 55 different markets who plan to implement D365, but without this feature it will be difficult to sell.
Quite a big loss for MS if we are forced to a different solution.

Category: General Ledger

M

We have the exact requirement and I agree that the lack of this feature indicates that there are not a whole lot of global public traded(US stock exchange) companies on D365.

Category: General Ledger

M

Hi Gerry
So Surprise too..., if Microsoft wants to win more project in front of other ERP
I had to stop deployment because Auditors (like Pricecooper...) refused any customizations on Dynamics 365
contact me if you want more information


best Regards
pierre

Category: General Ledger

M

It is actually quite surprising that there is only 15 votes for this.  I personally think that there are a lot of accounting departments that are manually dealing this this issue through excel.  Doing restatements using average and month end rates is not the most efficient process in my opinion as it often results in a lot of offline excel workbook to address shortcoming with only having one ledger.  Also, mid-month reporting required in a common reporting currency (e.g. USD) will be challenging.  I would be interested in speaking with anyone that has challenges with their current or upcoming D365 deployment due the fact that it lacks a second reporting ledger. 

Category: General Ledger

M

Very common requirements for the enterprise customers and unfortunately competitors know Dynamics 365 lacks and becomes deal breaker in presales. 

Category: General Ledger

M

My company will likely need to delay or scrap our implementation due to the lack of this functionality as it impacts over half of our operational legal entities.

Category: General Ledger

M

Oh yes, now I remember we saw that once but it wasn't critical for some reason, it was years ago. I expected direct translations from transaction to accounting and reporting currencies. I'll add a vote to make it behave that way.


Thinking more about it, there are at least a few features missing for it: an additional exchange rate for conversion to reporting currencies (that would probably be set in all counties) that contains all currency pairs, since national exchange rate lists (in Danish company) wouldn't either have a direct conversion PLN->EUR or it wouldn't need to be the same as the PLN->EUR conversion in the Polish company.


You would also need to be careful about rounding. I'm not sure from the top of my head if it is "symmetrical" by default for positive and negative numbers (round +1,5 to 2 and -1,5 to -2, not -1).

Category: General Ledger

M

The standard reporting currency is so flawed by the way, because it always triangulates through the accounting currency.


Imagine 2 companies


1) One in Denmark with DKK accounting, EUR reporting currency


2) One in Poland with PLN accounting, EUR reporting currency.


An intercompany purchase order from Poland to Denmark is created in PLN.


The SO invoice is translated PLN->EUR into the reporting currency


The PO invoice is translated PLN->DKK->EUR into the reporting currency.


As a result, your group consolidated P&L in Euro is not zero in this most basic use case, such a shame.

Category: General Ledger

M

How is this idea different from the standard reporting currency function? 

Category: General Ledger

M

SAP do it so it's so important for Dynamics 365 finance and operation to have this option As soon as possible


many company have this process

Category: General Ledger

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