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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / multicurrency bank tra...
Microsoft Dynamics GP (Archived)

multicurrency bank transfer

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Posted on by Howard Swerdloff 845

We are transferring money from an account in 1 currency to an account in a different currency. At the time of the transfer, we get confirmation of the amounts. When entering it in GP Bank Transfer Entry, the currency translation is incorrect. We have modified the rate being used, but cannot get the exact amount. Does anyone know how to get the proper amounts posted?

Thanks.

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  • Community Member Profile Picture
    Community Member on at

    Are you able to put in the exact rate?

    Are there any bank charges or fees included in the confirmation from the bank?

    I would start by checking the rate that the bank has quoted...i.e. if you multiply one amount by the rate quoted, do you get the second amount?

    Ian.

  • tcxgarcia Profile Picture
    tcxgarcia 105 on at

    Hi there.

    I just have the same issue with a customer today.  In our scenario, the exchange rate from KYD to USD is 1.19 (multiplying).  So, KYD$100 = USD$119.

    Now, when I try to transfer KYD$100 from a KYD account to a USD account, the window reads:

    Amount: USD$84.03 (this is incorrect).

    Functional amount: $100  (this is correct).

    The amount calculated seems to be the product of "Dividing" $100 / 1.19.  No matter what I do, it does the calculation in the same way.

    The workaround I found was to create a separate rate type and exchange rate. This exchange rate makes the calculation reversed from the correct one (yes, incorrectly), and make sure the default rate type for Financials is the new rate type.

    THis is, of course, not a clean solution. I am reporting this to Microsoft and see what they say about it.

    Keep you posted.

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