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Currently when you go to "Currencies" and go to "Adjust Exchange Rates", you can only run the revaluation for the Currency alone. Meaning revaluation is done for all GLs at the same currency exchange rate. What should happen is allow users to run revaluation by GL because GLs can be revalued at different rates. The same exchange rate should not be applied to all GLs.
STATUS DETAILS
Needs Votes
Ideas Administrator

Thank you for your feedback. Currently this is not in our roadmap; however, we are tracking it and if we get more feedback and votes, we may consider it in the future. Sincerely, Business Central Team Microsoft

Comments

K

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

K

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

K

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

K

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

K

Also, this is something that GP already does. Can we not leverage off the GP logic to BC?

Thanks.

Category: Financial Management

K

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

K

2 years later and we are still having clients request this. please try to add this.

Category: Financial Management

K

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

K

This is a serious gap in this product. Business is becoming more global and more and more companies are dealing in multiple currencies. Paul's statement at the top sums it up - it needs to be there.

Category: Financial Management

K

The fact that D365 and NAV do not allow GL Accounts to be revalued is a major competitive weakness in the marketplace. Most other products have this functionality and I believe some of the European versions of NAV, for example the Swiss version, have this functionality but it has not been implemented in the NA version.

The main requirement here is to add the transaction currency to the General Ledger Entries table and then allow GL Accounts to be revalued at month end. We also need a flag on the Account Card to indicate whether that account should be revalued. Some accounts, for example fixed assets, should not be revalued although the accounting standards are changing all the time so we need the flexibility to either revalue or not revalues specific accounts.

The revaluation of the Additional Reporting Currency is not usefull since you can only revalue the ACF from the LCY or the LCY from the ACF, neither of whihc makes any sense from an accounting point of view. In reality both LCY and ACF should be revalued from the Transaction Amount which is not in the GL.

In general terms the balance sheet accounts should be revalued at the month end exchange rate and the income statement accounts should either be not revalued at all, assuming the correct exchange rates were in the system during the month, or they should be revalued at an average exchange rate for the month.

Category: Financial Management