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Answered

Foreign Consolidation in Management Reporter

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Posted on by JGarcia123 380

My client would like to start using Management Reporter to Consolidate a US company with multiple foreign entities, translating the foreign entities into US dollars.   Each company is a separate database configured with their home country currency.  All the transactions in each country are within their own currency and do not cross companies.  MR currently does individual balance sheets and income statements but does not do any consolidation.

Within the US company, they have rate tables for each of the foreign currencies which are maintained on a monthly basis with new rates entered at the end of each month.

The foreign countries are denominated in their own currencies, but have not rate tables.

There is a foreign currency setup document for Management Reporter, but it is not very clear.  Is there anyone out there that has completed this type of setup? 

If so should the rate tables reside with the US company or should they be within each foreign company?  

Look forward to a reply.

JG

Categories:
Microsoft Dynamics GP
  • JGarcia123 Profile Picture
    JGarcia123 380 on at
    RE: Foreign Consolidation in Management Reporter

    Thanks Greg,

    Appreciate the response, I am now seeing a road map in terms of adjustments the client needs to make.  In our case it appears the client's setup is in the US company and not in the foreign entities.  Their configuration goes back over 10 years and was designed to support a custom consolidation process without consideration for back then FRx, today Management Reporter.

    Again, appreciate the help.

    JG

  • Verified answer
    Greg Byer Profile Picture
    Greg Byer 2,586 on at
    RE: Foreign Consolidation in Management Reporter

    Hi JG,

    MR reads all the currency translation information from the company in GP.  You'd need to have exchange rates set up for each company that had a rate for the functional currency to USD.  The KB below has the steps for setting up currency and exchange rates in GP:

    support.microsoft.com/.../2986068

    Let's say that I have two companies, one with a functional currency of USD and another with CAD.  I want to consolidate them and see the amounts in USD.  In my CAD company, I would need to have an exchange rate set up between CAD and USD.  In MR, I would need to select the USD currency in the Currency Display cell of the column definition.  I can add both companies to the report tree and when the report is generated, both companies would display in USD.  

    You can also view an on demand learning video here:

    community.dynamics.com/.../on-demand-learning-management-reporter-multicurrency-configuration-for-microsoft-dynamics-gp-2015

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