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Hi All,
What is the use of Euro Relation ship in Dynamics GP2010.
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I have the same question (0)Hi,
This was used for currency triangulation with the Euro. Ian posted a great explanation of this a while back. Just because some links don't link, I've copied his correct answer below:
Ian Stewart responded on 19 Mar 2013 3:28 AM
Hi Catherine - No, the Euro Currency relationships are not necessary. This functionality allows for the conversion of your functional currency to Euro - if you ever need to convert. This will only happen again if your functional currency joins the Euro in the future. So if you are denominated in say Danish Krone....and Denmark joins the Euro...you would need this functionality then.
Historically, this functionality was used when the Euro currency came into being. At that time there were for example companies operating in Ireland denominated in the Irish Punt currency. When Ireland joined the Euro - these companies needed to convert their systems to Euro at a fixed rate. They would have had transactions with originating currencies in GBP, French Franc etc...and all of these transactions also needed to be updated with a triangulation to Euro. This is what this functionality does.
If you are setting up Euro as a foreign currency (or Originating Currency in GP terms) - then all you need is an FX table to track the rates between your functional currency (USD?) and Euro.
Best regards,
Ian.
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