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Multi-currency Inter Co transactions

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Posted on by Marmeduke8

Good day

It would be really great if someone could provise some insight on my query below please.

I'm trying to do an IC journal and an IC sales transaction where Co # A is in GBP and Co # B is in USD. My IC Partnerships have been defined in both companies with the currency ID field completed as necessary. I've also stated the currency id on the IC Customer in Co # A and on the the IC Vendor in Co # B.

My journal does arrive in the Inter Co Inbox in Co # B and I can successfully cuase it to create an Inter Co Journal. However, I've had to pull on the Currency ID field on othe IC journal and I can see that it is empty. Unless I manually key in the relevant currency id, the journal behaves as if it is a LCY transaction in co # B.

My sales invoice from co # A does automatically create a purchase invoice in co # B but again, the currency id field is empty. If I key in the currency id then all the deail lines on the invoice clear out.

I'm wondering what step I'm missing in doing these Munti-currency IC transactions and any insight would be welcome.

Thank you

Marmeduke8

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Community Member on at

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Hello,

Let me restate what you wrote: Company A is LCY GBP and Company B is LCY USD. In Company A Customer B is USD and in Company B Vendor A is GBP. Your Intercompany Partners are setup, IN BOTH Companies, so that in Company A, Company B shows Currency Code USD and in Company B, Company A shows GBP. The Currency Rates are up to date on both. My pic below shows a Company who is LCY USD with 2 Intercompany Partners in different currencies. When I transact the ICO transactions are received correctly for the Vendor/Customer in their currency code and the LCY Company.

Have you tested your above example in a Cronus Test database? You should not have an issue.

Hope this helps.

Thanks,

Steve

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Marmeduke8 on at

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Hello Steve

Thank you for the reply. I have not tried it in the Cronus company - I'm using my own companies. I will try that. I do notice that you have both a Customer and Vendor set up for each ID Partner and the codes you are using are the same. I only set up the IC partner for a Customer in Co # A and for a Vendor in Co # B. Also, I am not using the same Customer and Vendor code. I'm thinking that can't matter but I do see that as a difference between your set up and mine.

Am I correct in thinking that what I've observed should not matter?

Thank you for your time

Marmeduke8

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Marmeduke8 on at

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I should also mention that I am set up for 'Database' as my inbox type - not file location

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Hello,

That will still work as each Company is within the same database. My example I was showing to someone was to have separate instances.

Thanks,

Steve

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Hello,

You are correct. I like being consistent if I want to run report on Customers and Vendors (ICO) so the Numbers match.

Steve

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Marmeduke8 on at

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Hello again

After numerous attempts as both an Inter Co Journal or as an Invoice or as a Sales Order, my results are the same. The target company picks up the transaction and records it only in LCY. In the target company, the Vendor is set up with GBP as the default currency and I am expecting the purchase in this company to know that it must be recorded in the currecny of the sending company, That does not happen.

I'm wondering if that is by design. If the sending GBP company sells to the USD company and the ROE in that sending co is 10.5 but the target company has a different ROE then how could the target company arrive at the same GBP value as the sending co? That might be why the target company is always in LCY.

I was hoping that the Multi-currency IC transactions would mean that I did not have to do 2 separate transacitons in both companies, but it does look like I have to edit the entry once it has arrived as a purchase in the target company.

Your insight would be valuable

Thank you

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Alessandro Vannini 1 Microsoft Employee on at

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Hello Mermeduke8

when you receive the transaction in the comapany from GBP to USD the system will post the transaction in general ledger in the LCY( in this case USD)

In BC/NAV you can only activate the ACY so for example you can add GPB as ACY in the USD company in this case you will have the amount post in USD (LCY) and in GPB(ACY)

If you don't activate it all the trasaction wll be posted ( general ledger wise) in the LCY

Hope this clarify

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Marmeduke8 on at

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Hello Allessandro and thank you for the reply.

I'm now ok with the entry being in the LCY of the target company - in my case USD. I'm successful with my Inter Co journal from my GBP company where I use the Bal Type Customer and the Bal Acc No is the Customer which I have set up and referenced in my Inter Co Partnership. In my GBP company, that customer is set up as a USD customer.

However, when I capture a Sales Invoice in my GBP company for that same USD customer, once it arrives in the USD company, it sits in the Inbox and if I try to accept it, it thows an error about "the field Currency Code of table Purchase Header contains a value (USD) that cannot be found in the related table (Currency)."

As I am in the USD company, I do not have the USD currency code in my list of currencies. In my understanding, I don't need to have the LCY currency code as a code in the Currencies table. This is now confusing me. Only if I add the USD as a Currency Code in the USD company will the Purchase Invoice move out of the Inbox. I can then post it as a LCY purchase invoice.

Is there some other setting that could be causing the Purchase Invoice to be needing the LCY Currency Code to also exist in the Currencies table that you know of please?

I do thank you for your time.

Regards

Marmeduke8

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Alessandro Vannini 1 Microsoft Employee on at

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Hello Marmeduke8

very intersting point, need to investigate a bit more

If the LCY is USD you don't need to have USD currency in the currecies table

I'll be back to you with my findigns

Have a good day

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Marmeduke8 on at

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Hello again Alessandro

I was wondering if you've had time to re-visit this currency issue for me please?

Thank you

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