Dynamics GP: Currency Translation and Management Reporter

Microsoft has made a lot of improvements in this area since FRx and early versions of Management Reporter, however it can still be difficult to achieve what seems like a simple result. There are many variables that go into the setup and so, even though Microsoft provides a nice KB article (2986068) about how to set this up, it does not catch some of the nuances.

Recently during a support case with Microsoft, I learned two very important things:

1. Certain data, such as exchange rates from the exchange rate tables in GP, do not refresh into MR until each 5-minute mark (10:05 am, 10:10 am, 10:15 am, etc). This is particularly important when troubleshooting what rate is being pulled for any given account for currency translation. If an additional rate needs to be added for a new period, etc…it must be added, and you must wait until that 5-minute mark before you will see the new rate.
   • Consider the following scenario: You make a rate update, run the report (too quickly), don’t see a change in the translation, continue troubleshooting and make an additional rate change, run the report again (the first change took effect, but not the second), the report appears to be correct. Upon giving it over to the client, the rate is potentially incorrect again (due to the second change that was made)
2. Probably less significant than #1, but important nonetheless: when using Average Currency Translation Type, ALL Months need to have a rate (even if they are the same rate). So an entry of 1/1/2016 to 10/1/2016 with one single rate for average – will not work and the report will simply not translate at all. This applies even when there is no activity in any of the periods but one.

Hope this clears up some facts on currency translation and Management Reporter within Microsoft Dynamics GP!

This article was written by Kaydee Baker, Dynamics GP Application Consultant for Tridea Partners. Tridea is a leading Microsoft Dynamics provider.