Best Practices for Multicurrency Revaluation in MS GP 9.0

Last post 08-03-2008 7:53 AM by wilsonl. 3 replies.
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  • 11-21-2007 9:48 AM

    • Sajid
    • Top 150 Contributor
    • Joined on 03-20-2007
    • White Plains
    • Posts 3

    Best Practices for Multicurrency Revaluation in MS GP 9.0

    Hello Experts!

    Any one has some information regarding Best Practices of Multicurrency and its Revaluation in Microsoft Dynamics GP 9.0.

    Thanks

     Sajid 

     

  • 01-14-2008 10:51 AM In reply to

    Re: Best Practices for Multicurrency Revaluation in MS GP 9.0

    Hi Sajid - I am not sure what the delta is between version 9.0 and 10.0 on  multicurrency but I can confirm the following functionaility in the 10.0 product.

    Exchange Rate Tracking Track the date and time of exchange rates used in multicurrency transactions to facilitate audits and allow for after-the-fact transaction entry in a changing currency market.

    Standards Support Manage multicurrency transactions to international standards for accounting and reporting.

    Currency Rate Definition Define an unlimited number of currencies and exchange rates per currency, or set specific rates as needed for individual companies, contracts, or transactions

    Customer-Specific Default Set default currency rate, select a different rate, or enter a new rate during transaction entry to handle exceptions as they arise.

    Extensible Multicurrency Solutions Extend multicurrency capabilities as needed to the following modules in Microsoft Dynamics GP: General Ledger, Intercompany Transactions, Receivables Management, Bank Reconciliation, Payables Management, Project Accounting, Sales Order, and Purchase Order.

    Realized Gains and Losses Automatically track and record realized gains and losses for sales and purchases over the life of transactions due to the effect of currency changes.

    Multicurrency Reporting Show multicurrency activity in financial reports or translate existing reports into multiple currencies.

    Multicurrency Inquiry Get instant access to the information you need, with multicurrency transactions displaying both originating and functional currencies for financial inquiries.

  • 04-24-2008 6:29 AM In reply to

    Re: Best Practices for Multicurrency Revaluation in MS GP 9.0

    Hi,

    I am currently using GP version 10 with two companies, one US entity (functional currency is USD) and one UK entity (functional currency GBP).  In addition I am using FRX and multicurrency translation for consolidation reporting purposes where all reporting is in USD.  We have monthly exchange rates in GP.  Is revaluation necessary? If so which accounts get revalued?

  • 08-03-2008 7:53 AM In reply to

    Re: Best Practices for Multicurrency Revaluation in MS GP 9.0

    Are you using the FRx Currency Translator?  If not, how does FRx translate the different currencies into USD, from the GP tables?  Thanks for your help.
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