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Dynamics 365 Community / Forums / Small and medium business | Business Central, N... / Adjusting exchange rat...
Small and medium business | Business Central, N...
Answered

Adjusting exchange rate in Additional currency

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Posted on by Valeria Montagut 742

Hi all,

I'm working with additional currency and I have balances account which should be converted to a closing exchange rate (last for the current period), but in addition, I have commercial acocunts (sales for example) which should be converted at average exchange rate. 

Is there a way to do this? 

Thank you! 

I have the same question (0)
  • Suggested answer
    Inge M. Bruvik Profile Picture
    Inge M. Bruvik 1,111 Moderator on at

    On the G/L Accounts you can define the method you want the account to be adjusted on the basis of.

    So if you during the accounting period have you average exchange rate defined for the add. reporting currency in the exchange rate table. And you define no adjustment on your sales account and define the "Adjust additional-currency amount" on your balance account i think you can achieve what you are looking for.

    pastedimage1642284922974v2.png

    But that is dependent on knowing what currency rate you want to use for the sales when they happen.  If the currency rate you want for the sales transactions is defined after the transaction is posted you will have to look at other options. 

    Is the exchange rate you want for the sales transactions know when the transaction is posted?

  • Valeria Montagut Profile Picture
    Valeria Montagut 742 on at

    Hi Inge, thank you very much for your answer.

    I use a diferente exchange rate each day (because in Argentina is like this). So, the transaction is posted with an exchange rate, and then I have 2 issues at the end of the month: receivables account has to be converted at closing rate and sales account has to be converted at average rate. Can this be done? Thank you!!!

  • Suggested answer
    Inge M. Bruvik Profile Picture
    Inge M. Bruvik 1,111 Moderator on at

    Hi Valeria,

    In theory it is doable but you will have to run the "Adjust Exchange Rates" batch job several times each end of month and in between the runs you will have to adjust setting on your G/L Accounts and your exchange rates. The risk of doing something wrong or forget a step is pretty high so from a users perspective it will not be a routine that looks doable.

    So the you really only have two options.  The system needs to be customized to support your business case or you can do it through reporting.

    If it is not a requirement that the adjustment is posted in your G/L Entry that you could create some reports where the numbers are adjusted before they are displayed. That could be both Business Central reports or Power BI reports.

    If it is a requirement that the adjustment should be posted to the G/L entries then the "Adjust Exchange Rates" batch job needs to be modified to achieve that.

  • Valeria Montagut Profile Picture
    Valeria Montagut 742 on at

    Hi Inge, thank you for answering!

    I have a question regarding this:

    In theory it is doable but you will have to run the "Adjust Exchange Rates" batch job several times each end of month and in between the runs you will have to adjust setting on your G/L Accounts and your exchange rates.

    Currently in BC there is no way to filter GL accounts when running the Adjust exchange rate process, right? So, I would need a customization either way.

    If you know a way of filtering GL accounts, that would be great. Because otherwise, if I change the exchange rates and run the process again, it would change all the GL accounts balances (I mean, for the entire chart of accounts).

  • Suggested answer
    Inge M. Bruvik Profile Picture
    Inge M. Bruvik 1,111 Moderator on at

    As i said i would not recommend it but you could go to your G/L Accounts and set all commercial accounts "Exchange Rate Adjustment" to "Adjust Additional-Currency Amount" and then for your balance account set  the value to "No adjustment". Then you could change the currency exchange rate to your average rate for the period you want to adjust. The you run the "Adjust Exchange Rates" one time.

    Then you go and adjust your commercial accounts to "No Adjustment" and set your balance accounts to "Adjust Additional-Currency Amount" . Change your currency rate to your month end rate. Run the "Adjust Exchange Rate" job again. And you should have achieved what you are looking for.

    I have not tried it myself, but it should work.

  • Inge M. Bruvik Profile Picture
    Inge M. Bruvik 1,111 Moderator on at

    There is no way to directly filter the G/L accounts in the adjust exchange rate job other than changing the setting on the accounts.

  • Valeria Montagut Profile Picture
    Valeria Montagut 742 on at

    Thank you Inge!!

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