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Hi All,
In my client requirement he wants Unit cost price in GBP format. How will i go forward USD to GBP.
Regards
Santhosh
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Hi Santosh,
good question. Usually the unit cost is calculated in LCY. You have one additional reporting currency (ACY), meaning your G/L will be also posted in ACY. For unit cost you need value entries - these have ACY fields, too. So, it's not too bad for a start. But it won't work right out of the box, and you will have an exchange rate adjustment problem, IMO.
what can you do:
- set GBP as ACY for the company
- create unit cost (ACY) fields in the Item table, thereby mirroring the functionality that lies behind the normal unit cost fields. Basically it's duplicating the calculations with the ACY fields of the value entries.
- Alternatively you could use the item analysis views to get the unit cost in ACY (i think so, haven't tried this).
Then you have unit costs in ACY... so you can retrieve it from the application for information.
There are some issues with this, though:
1. The ACY prices are only for information, they have no direct effect in the business logic of NAV.
2. Changes in the GBP exchange rate against your local currency will not be reflected on the item value ledger. The "Adjust Exchange Rates" batch doesn't do this, and it would be a PITA to implement it safely.
However, the feature to hold certain items in a separate (trading) currency with valuation and exchange rate adjustments is a planned feature of one of our AddOns, named "Smart IT TransacionCurrency". The effect of this feature would be basically what you want:
- you have all valuations in LCY and in your trading currency (and ACY),
- all G/L entries for this item are posted in trading currency, LCY and ACY,
- exchange rate adjustment takes care of the adjustment of value entries.
with best regards
Jens
What is your LCY in database? For what analysis you want second currency?
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