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Dynamics 365 Community / Forums / Finance | Project Operations, Human Resources, ... / Multi Currency bank Tr...
Finance | Project Operations, Human Resources, ...
Answered

Multi Currency bank Transfer

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Posted on by Grace1609 104

Hi,

I have journals to be accounted between two entities with different currencies

Eg: AUD 1000 transfer from entity 1's bank to Entity 2's bank which is USD 750. The conversion rates vary as they are dependent on daily bank rates.

When i try to create Inter company journals, it wont let me change the exchange rate and takes the system conversion rate.

I tried having 2 lines journal so to be able to change the currency, but D365 shows me error that I cannot use the bank account of another entity and need to be logged into that entity (Either ways i need to transact to 2 different bank accounts of separate entities)

Can anyone help me pls !

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  • Verified answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at

    Good Morning Grace1609,

    Have you tried making this transfer in a GL journal?

    I would except that this transfer works if you create a first line that posts against a transfer / bridge account.

    Something like:

    Line 1:

    DR: Bank1 (company 1)

    CR: Transfer account (company2)

    Amount: 1000 AUD

    Line 2: Company 2 selected for the account and offset account

    DR: Transfer account (company2)

    CR: Bank2 (company2)

    Amount: 750 AUD

    Then run a foreign currency revaluation in company 2 for the transfer account to catch the fx change/variance that occured between the day line 1 and line 2 is posted.

    Would be great if you could test this in a demo / test environment first to verify that it works for you as expected.

    Best regards,

    Ludwig

  • Grace1609 Profile Picture
    Grace1609 104 on at

    Thank you very much Ludwig. I have tried this and it works fine.

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