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Local currency needs to be changed for the historical data

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Posted on by Sumitsingh 20

I want to change the local currency from INR to USD for the past 3 years' transactions and going forward in the future, I will keep USD as my local currency. Is this feasible in NAV 2009 version or what manual steps should I follow to do this change after considering the aspect of Adjust exchange rate batch job. I tried to enable the Additional reporting currency boolean in the General ledger set up but i guess it's not working for the historical data. Any early response will be highly appreciable. 

Thanks, 

Sumit 

Categories:
Financial Management
  • Suggested answer
    Amit Baru Profile Picture
    Amit Baru 3,025 on at
    RE: Local currency needs to be changed for the historical data

    Hi,

    This is not feasible and recommended. Pls create New companies with fresh base currency and do the transactions accordingly.

  • Suggested answer
    Sumitsingh Profile Picture
    Sumitsingh 20 on at
    RE: Local currency needs to be changed for the historical data

    Hi Zhu, Thanks for the valuable comments.

  • Sumitsingh Profile Picture
    Sumitsingh 20 on at
    RE: Local currency needs to be changed for the historical data

    Thanks for the insights.

  • Suggested answer
    YUN ZHU Profile Picture
    YUN ZHU 69,639 Super User 2024 Season 2 on at
    RE: Local currency needs to be changed for the historical data

    I totally agree with Igne.

    Hopefully the link below will convince you too.

       

    In addition, NAV2009 has been out of service for a long time, please update to the latest version as soon as possible.

    https://docs.microsoft.com/en-us/lifecycle/products/dynamics-nav-2009-r2

    pastedimage1662354530440v1.png

    Hope this helps as well.

    Thanks.

    ZHU

  • Suggested answer
    Inge M. Bruvik Profile Picture
    Inge M. Bruvik 32,744 Moderator on at
    RE: Local currency needs to be changed for the historical data

    My recommendation to you will simply be not to do this and not even try to do it.

    You should create a new NAV company that is configured with the correct currency from the begining.

    Then you can discuss with your partner how they can assist you in converting the data you need from your old NAV company to the new NAV company.

    And because you are on NAV 2009 you should take the opportunity to upgrade to Business Central at the same time.

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