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Microsoft Dynamics GP (Archived)

management reporter and exchange rates

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Posted on by Ian Richardson 4,150

today's exchange rate is yesterday's closing rate.

for a month end we will also enter today's closing rate for today's rate so that month end revaluations will use the month end rate.

so we have two rates for each month end.

management reporter multicurrency feature is now translating my CAD entries into USD for me and it can see both rates and is therefore pulling all the transactions twice.

Is this a bug in MR?  Is this a set up issue in MR or GP? Is this an expectation that the data should / can only have one rate per day?

thanks!

Ian

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  • Ian Richardson Profile Picture
    Ian Richardson 4,150 on at
    RE: management reporter and exchange rates

    for a pure average exchange rate I would agree with you have only one rate.

    We are however entering rates daily, hence the two dates on a month end.

    I'll go with the separate exchange table that has only the one rate until we can make it over to GP 2013 (once our third party software catches up) where average can be calculated by GP based on the daily rates entered.

    thanks!

  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: management reporter and exchange rates

    I have not heard of anyone overlapping rates before. For example, if you want a rate for July, I would have the start date 7/1/2013 and the end date 7/31/2013. The rates are valid for all days including the start and end date. Any other rates should fall on an adjacent day. For example, August would run from 8/1/2013 to 8/31/2013.

  • Ian Richardson Profile Picture
    Ian Richardson 4,150 on at
    RE: management reporter and exchange rates

    I created a new exchange table with only one rate on it and the problem went away.  That's the only solution I can see as any month end that falls on a week day is going to have two rates, one set from the prior days close at start of day and one set as the spot rate for the closing of the period.

    ian

  • Verified answer
    Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: management reporter and exchange rates

    I have not heard of this before. I know it is recommended to only have one exchange rate per day so if you correct your rates, does that correct MR? I would also recommend testing this from the other way around by removing the translation code from MR to see if that corrects the duplicate transactions.

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