Business Central Multicurrency

Hello everyone!

Today I want to share useful resources about multicurrency posting in Microsoft Dynamics Business Central.

First of all let speak a little bit about currencies in Business Central,

Where we can use currencies and how many currencies there are in the system?

In Business Central there are currencies:

LCY – Company local currency. Functional company’s currency for accounting.

Only one defined currency. All system transactions are in local currency. 

Settlement Currency – foreign currency is used in settlements with contractors. Transaction’s currency what is different from company local currency.

It can be different currencies. Currency is used for Bank, Customer, Vendor transactions. 

ACY – Additional reporting currency is used for reporting in currency different that Local currency.

Only one defined currency. General ledger and VAT transactions.

Consolidation Currency – currency for consolidation.

Only one defined currency for one Consolidation Business unit. General Ledger transactions.

More detail info how to setup and use currencies in different scenarios for Business Central you can find here:

Currencies in Business Central - Business Central | Microsoft Docs

Set Up Currencies - Business Central | Microsoft Docs

Set Up Additional Currencies - Business Central | Microsoft Docs

Set up company consolidation - Business Central | Microsoft Docs

Browse all - Learn | Microsoft Docs

GAAP: Foreign currency translation | ACCA Global

If you have a chance to visit Odense, Denmark  on 17-18th June 2022, welcome to Days of Knowledge Nordic  to my session - All about currencies in Business Central.

Schedule | Directions 4 Partners