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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / multiple functional cu...
Microsoft Dynamics GP (Archived)

multiple functional currency require in GP

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Posted on by Community Member Microsoft Employee

Hi,

I understand GP application is not design to allow to have more than one functional currency. However, is there any workaround that we can handle GP with more than one functional currency?

Functional currency = USD

Chequebook currency = HKD

Invoice currency = SGD

Exchange rate setup is between SGD to USD and HKD to USD.

But we will need to use HKD to pay SGD invoices and get all transaction reflected in USD correctly.

In another word, HKD is the 2nd based currency in my scenario. USD is always the main functional currency.

Is there any workaround way we can achieve the above?

THank you.

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  • chad402 Profile Picture
    chad402 5 on at
    Re: multiple functional currency require in GP

    a development through dexterity is performed to handle this seconf functional currency issue.

    where you can print all your reports based not on your FC, but on the SFC.

    and this customization record the rate of the currency trx based on the defined SFC, and only affect the GL.

  • Suggested answer
    Dale Coulthard Profile Picture
    Dale Coulthard 3,055 on at
    Re: multiple functional currency require in GP

    I do not know your company's allowed procedures, but we have the same issue anytime we have currencies going against another currency other than our functional.  For what you describe above, I have to perform two types of entries:  (1) enter a credit to the customer for the SGD received through Receivables Transaction Entry.  We do not use the Miscellaneous field, so I input the value in this field in hopes of avoiding report issues.  In the distribution, I offset to a wash account.  Remember to apply the credit against the invoiced settled. Then, (2) do a bank transaction (for Option, use Enter receipt) and reflect the HKD amount the bank credited to the organization's bank account and after entering as a receipt (in the description field, you can state who the funds are from) then do a bank deposit.  Sloppy, but I am unaware of any better way.

    Best regards,

    Dale

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