Incorrect or missing multicurrency accounts when running financial revaluations or when applying payables\receivables documents

A common issue we see is either missing accounts or the wrong account being used for gain\loss\rounding\etc when processing revaluations or when applying multicurrency documents in payables and receivables.

The first thing to note is there are 3 locations that are checked when looking for the multicurrency accounts to use for gain\loss during revaluation events or when applying payables\receivables documents. The below are the 3 locations and are also in the order that will be checked.

1. On the rate type assignment.
   1. Go to Tools>Setup>Financials>Rate Type.
   2. Select the exchange table being used by the transaction\revaluation in the lookup window.
   3. Select the rate type being used by your transaction.
   4. Click the accounts button.
      
      
2. On the currency itself.
   1. Go to Tools>Setup>Financials>Currency Accounts.
   2. Select the currency.
      
      
3. In posting account setup.
   1. Go to Tools>Setup>Posting>Posting Accounts.

If you are unsure of how to find the exchange table being used to check the rate type assignment, you can check via the following.

1. Find the rate type being used.
   1. For GL revaluations.
      1. Go to Tools>Setup>Financials>Multicurrency.
      2. Take note of the rate type assigned to “Financials” in the “Default Transaction Rate Types” box.
         
         
   2. For Payables transactions.
      1. Go to Cards>Purchasing>Vendors.
      2. Select the vendor in question.
      3. Click the option button.
      4. Look to the field “Rate Type ID”.
      5. If the value is not set in this window, Go to Tools>Setup>Financials>Multicurrency.
      6. Take note of the rate type assigned to “Purchasing” in the “Default Transaction Rate Types” box.
         
         
   3. For Sales transactions.
      1. Go to Cards>Sales>Customer.
      2. Select the customer in question.
      3. Click the option button.
      4. Look to the field “Rate Type ID”.
      5. If the value is not set in this window, Go to Tools>Setup>Financials>Multicurrency.
      6. Take note of the rate type assigned to “Sales” in the “Default Transaction Rate Types” box.
         
         
2. Next run the below query against the company DB.
   1. In the script replace XXX with the currency ID being used.
   2. In the script replace YYY with the rate type identified in step 1.
   3. Run the script and it should return 1 record showing the exchange table being used.

select CURNCYID,RATETPID,EXGTBLID from MC40301
where CURNCYID='XXX' and RATETPID='YYY'

For transactions you can also check via clicking the blue expansion button next to the currency ID which will also show the exchange table used.

As always, if you need assistance please feel free to reach out to Microsoft GP support.