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Dynamics 365 Community / Forums / Microsoft Dynamics NAV (Archived) / Currency Code <>...
Microsoft Dynamics NAV (Archived)

Currency Code <>''

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Posted on by Community Member Microsoft Employee

Over the years, I have seen many incidents (and questions) involving users who populate master records with "USD" when their LCY is USD. I have been attempting to compile a list of reasons as to why users should never do this so I can show them something, not just tell them.

I'm looking to add to the list below. If anyone can provide more examples, that would be great. I would like something I can share with clients. Thanks~

Here are some of the more common reasons I have noted:

1. NAV presumes that if the Currency Code field is populated, that customer/vendor/bank should be transacted in a foreign currency, so it follows foreign currency logic. For example, the system looks for a valid exchange rate, realized/unrealized gains accounts, etc.

2. Throughout NAV, there is ' "Currency Code <>'' ' logic (representing local currency) present in code.

3. Can create problems with consolidations

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  • Suggested answer
    Jens Glathe Profile Picture
    Jens Glathe 6,092 on at
    RE: Currency Code <>''

    Hi McWander,

    yes, that's true. To avoid it you need to enable mixed currency application for customers and vendors. As long as the exchange rate is 1, nothing bad will happen.

    with best regards

    Jens

  • Suggested answer
    Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: Currency Code <>''

    Another reason is Cash Application.....I have experienced issues when applying a payment in the payment journal when the local currency has a code, the payment will not apply.  I get the error that they are not the same currency.

    Also, when cleaning a customer card and you want to apply payments , you will get an error stating that the currency is not the same if local currency is added to the card or the posted payment.  

    Hope that helps!

  • Verified answer
    Alexander Ermakov Profile Picture
    Alexander Ermakov 28,094 on at
    RE: Currency Code <>''

    Another reason is printforms and the potential spelling of the amounts in them. Some printforms are bounded to currency codes and this can be quite challenging to set it up correctly. E.g., I was blogging on Russian localization on that matter: community.dynamics.com/.../weird-currency-naming-setup-in-russian-localized-version-of-nav-2017

  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: Currency Code <>''

    Thanks, Jens. I always thought there was more to this, so that's why I posed the question.

  • Verified answer
    Jens Glathe Profile Picture
    Jens Glathe 6,092 on at
    RE: Currency Code <>''

    1. is a valid point. You get LCY postings that are handled like FCY postings. but, as long as the currency exchange rate is set up reasonably, nothing bad will happen. 2. and 3. shouldn't have an effect or are not really an issue.

    So, as a result, it's only a question of "cleanliness" because you will always have system postings that don't have the LCY currency code set, splitting the pool of LCY postings into two parts. That's all.

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