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Microsoft Dynamics GP (Archived)

Currency ID

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Posted on by 12

Dear All,

We have following currency ID on one company and its functional currency is EUR.

USD (with exchange table equivalent rate for EUR)

GBP (with exchange table equivalent rate for EUR)

The above company have access to the USD & GBP currency and these currency has monthly exchange rates.  We are in process of creating a new companies and the new company functional currency is going to be USD & GBP.  My question is can I use the same USD & GBP ID on these new companies as functional currency even though these currency has exchange table equivalent rate for EUR but on new company this currency is going to be functional.

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  • Verified answer
    twelvestrikes Profile Picture
    3,657 on at

    Hi Babu

    From your description above, I would setup the following Exchange Tables

    Company with Functional Currency of USD

    EUR-USD

    GBP-USD

    Company with functional currency of GBP

    USD-GBP

    EUR-GBP

    You can use the existing Currency ID's that you have setup, unless there is some change that is required for the specific company such as number of decimal places.

    Assign each Currency to the new companies and the correct Exchange table.

    For example the GBP functional currency company would not have the EUR-USD or GBP-USD exchange table only the USD-GBP and EUR-GBP tables.

  • babubaskaran@outlook.com Profile Picture
    12 on at

    Thanks Jeffrey,

    that's exactly what I was planning to do.

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