adjust GL account exchange rates in Business Central

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I understand that you can adjust exchange rates for Customer, Vendor & Bank accounts. How can i adjust GL account with the exchange rate? Does it have to be done manually?

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Gavin 2,508 on at

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Hi,

Yes, you can adjust exchange rates for Customer, Vendor and Bank Account ledger entries. I recently wrote this blog post that walks through the process

https://thedynamicsexplorer.com/2022/12/14/dynamics-365-business-central-walking-through-an-adjust-exchange-rates-revaluation-scenario-in-business-central/

With regards GL accounts, there is currently no functionality to revalue a GL account. This is because the foreign currency amounts aren't stored in the General Ledger Entries. Therefore you can only revalue Customer, Vendor and Bank Accounts.

Hope this helps.

Thanks

Gavin

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Inge M. Bruvik 1,105 Moderator on at

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As Gavin says it is only some balance accounts that are adjusted by the procedures in Business Central. Income and expense accounts are typically never adjusted for currency fluctuation.

Here are a link to the some documentation around the process:

learn.microsoft.com/.../

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CU26112018-0 20 on at

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I have a Client that has never ran the exchange rate adjustment and the year is closed. Can you tell me how to adjust GL Entries. On the Adjust Exchange Rate batch job there is a field for Adjust G/L Accounts for Add.-Reporting Currency what does this accomplish?

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Gavin 2,508 on at

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Hi,

Currently you can only revalue Customer, Vendor and Bank Account ledger entries. You can't revalue GL entries as the foreign currency amounts aren't held on the GL entries. However looking at the release plan this is set to change in the next release (2024 wave 1)

With regards additional reporting currency, you can set one reporting currency in the GL setup. This will be recorded, along with the local currency, in the GL entries. You can revalue it using the option you mention in the "Adjust Exchange Rates" batch job.

Hope this helps

Thanks

Gavin

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