Help with Multi currency consolidation

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Hello  - I need some help with my company's Multi-currency consolidation.  We consolidate 2 companies, 1 USD based and 1 GBP.  Each month, I specify the closing rate to use as I consolidate, however the balance sheet accounts are not converted to that exact closing rate (it's close, however).  The consolidation translation method on the balance sheet account cards are selected as "Closing Rate".  I run the "adjust exchange rates" everyone as well.  

I'm pretty confused, especially when I drill into the detail from the chart of accounts I can see that the entries for the GBP amounts say "converted at XXX", which is the rate I specified.  However, if you do the calculation in excel it's not using the specified closing rate.  Any ideas?  Looking back, I see that the GBP company consolidated at the expected rate for many months, and then 12 months ago stopped.  I haven't changed my process and I don't see anything strange in the month the consolidation rate stopped working as expected.  Does anyone have any ideas?

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  • With multi-currency consolidation, there are many moving parts. A couple of things off of the top of my head:

    1. Make sure you have the fiscal year created

    2. Make sure you specify the exchange rate on the business unit

    3. Make sure the currency code is properly defined on the business unit

    4. If all else fails, you may need to contact your NAV partner to check your setup.

  • Thanks Alex - I have tried those things already, unfortunately.  I may need to contact a partner.

    Regards,

    David

  • For reference, you can check out this MSDN article and make sure you have everything setup:

    msdn.microsoft.com/.../hh169407(v=nav.71).aspx

    If everything is setup properly, you may want to ask your NAV partner to see if they've made any custom changes on this area.

    Good luck!