Yes, you can enable Multi-Currency on any existing company. You would have to grant access to the additional currency ID's to the company, the user and the GL accounts used, and then the users can key any documents in any currency ID they have access to. For example, for a single vendor, you could key one invoice in US$ and the next invoice in Canadian dollars. So the currency ID is per transaction and not 'per distribution'. All the distribution entries will be in the same currency for the same document. However, all documents hit GL in your functional currency. The 'ACCOUNTS' button on the currency setup window, allows you to mark what GL accounts you can use that currency ID with. (Conversely, under Cards | Financial | Account, there is also a CURRENCY button where you can add the currency ID to the GL account there as well.) Here are 3 more resources you can use to find out about setup:
RESOURCS:
• System setup checklist for Multicurrency Management in Microsoft Dynamics GP
support.microsoft.com/.../858556
• How to set up a company in Multicurrency Management in Microsoft Dynamics GP
support.microsoft.com/.../858730
• community.dynamics.com/.../multicurrency-should-i-enable-it
NOTE: Should I still activate MC if I do not need to use other currency ID's? Yes, it is recommended. All new features in GP would have only been tested with MC enabled, so we encourage all users to enable MC, whether you will be using it or not. If you will not be using it, you can grant access to the functional currency ID only for users, so they are only allowed to use one currency. You don't need to set up any exchange rate tables for the functional currency ID so the setup is minimal. And there is no risk of using other currency ID's if the user does not have access to it, so the users would not know the difference (i.e. if MC is enabled or not).
Hope that helps,
Cheryl
Microsoft Dynamics GP Support
