Restrict functional currency from specific GL account

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Posted on by Community Member Microsoft Employee

Is there anyway to restrict the functional currency from posting to specific GL accounts? We have opened up some operations in a foreign country. This country is requiring us to deliver financial reporting in the native currency. The operations team in this country would like to get these amounts "un-converted" which will mean that all transactions for this location will have to be in the local currency. The only issue we have is restricting the ability to post in the functional (USD) currency. Any help would be much appreciated.

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Naga Kiran on at

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RE: Restrict functional currency from specific GL account

Hi Terry,

Usually in GP, you can use Account Currencies window (Cards >> Financial >> Account Currencies) to assign the currency ids other than the functional currency. You can use those accounts in multi-currency transactions but it will be posted to GL in Originating currency based on exchange setup with respect to functional currency.

Your query is something you want an originating currency act like functional currency which is not possible as far as I know. You may need to create new company with new set of accounts with functional currency set to the currency of the foreign country.

Hope this helps.
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soma 24,406 on at

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RE: Restrict functional currency from specific GL account

You can't restrict Functional Currency from posting to specific GL accounts.

But, while entering Transactions, you can choose the Currency ID to enter the transactions for what all the currencies you have. Then pull Account Transaction report with using Originating Debit & Credit amount column. These column shows the original amount of the transactions with appropriate currencies.

Hope this helps!!!