Comments
With GP's future sunset seemingly on the horizon, this may become more valuable to those customers who use multicurrency today. GP supports the ability at the G/L level to define how currencies are revalued between a month-ending rate, average rate for the month, or the specific rate incurred on each transaction date.
This has commonly been needed to deal with income statement accounts being revalued in one way (e.g. average for the month), fixed assets being revalued another (e.g. specific date), and bank accounts being revalued a third way (e.g. end-of-month). With only one method of revaluation in BC it does feel like a gap for clients with more sophisticated or complex multicurrency needs that are not necessarily of the size that warrants a different product.
Category: Financial Management
This idea is date 2018 but still a great idea, any possibility that will be taken in consideration soon?
Category: Financial Management
We need the possibility to adjust exchange rate to G/L account for some G/L in Business Central. Accounting rules refer to reevaluation of G/L not only on Customer, Vendor and Bank subledger. Accountants and Auditors need this functionnality in Business Central.
Make possible a new option in the Chart of Account to decide if we need to reevalue the G/L or not.
The task to adjust exchange rate monthly needs to be able to add G/L in currency with the option with Customer, Vendor and Bank.
It's a must, considering GP has this functionnality and we need to migrate some GP customer to BC. The monthly task is also possilble to GL only and/or in subledger (customer vendor) with reversing date in some cases.
Thank you
Category: Financial Management
I requested this function in 2019. After 2 years there was nothing been improved to support multicurrency G/L despite so many partners had shared their experience.
Category: Financial Management
We are getting more and more requests for this as clients move onto Business Central. Especially coming from the GP world, many clients are expecting to run the GL balance for transactions that were booked in a different currency and revalue the amounts to a month end FX rate.
Category: Financial Management
We're getting clients on GP moving to BC who are seeing the lack of GL Revaluation as an issue from their standard capability in GP
Category: Financial Management
Also, this is something that GP already does. Can we not leverage off the GP logic to BC?
Thanks.
Category: Financial Management
Ivan,
At month end, GLs are revalued based on the revaluation method. For instance, cash and current assets will be revalued using the month end rate. Other GLs may use a historical rate. It's standard accounting practice to revalue the GLs using different exchange rates at month end/year end.
Katrina
Category: Financial Management
2 years later and we are still having clients request this. please try to add this.
Category: Financial Management
This fuctionality already seems to exist in D365 F&O:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/foreign-currency-revaluation-general-ledger
It doesn't feel a big stretch to expand Business Central to do the same thing?
Category: Financial Management
Business Central Team (administrator)