Hello,
Are there any currency requirements to obtain consolidated financial reports?
i.e. Does all companies on my instance need to have:
- The same reporting currency or
-The same functional currency
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Hi Ali,
Just to clarify that the answer to your question "Can companies have different functional and reporting currencies set?" is "Yes". Sorry for any confusion! The additional links are just for your reference to assist with setting up Currency Translation.
Thanks!
Thanks Josh,
How coincidental, I have those links saved for review. I just haven't had time to review and thought someone in the community already knew and save me the time of reviewing all the documents to not find a straight answer and then have to test.
Hello Ali,
You are correct. The companies do not need to have the same functional currency or the same reporting currency.
In addition to the link Greg provided, here are some further resources on using Currency Translation for Management Reporter 2012 with Dynamics GP:
Legacy Currency Translation:
2575539 Consolidated Currency Translation with Management Reporter GP Legacy Provider
support.microsoft.com/.../2575539
Data mart Currency Translation:
2986068 Currency Translation for Microsoft Management Reporter 2012 with Microsoft Dynamics GP 2013 data mart
support.microsoft.com/.../2986068
On Demand Learning: Management Reporter Multicurrency Configuration for Microsoft Dynamics GP 2015
Management Reporter currency translation using the Current translation type
Management Reporter currency translation using the Historical translation type
Management Reporter currency translation using the Average translation type
Thanks!
Thanks Greg, so they can have different functional and reporting currencies set?
The companies would not need to be in the same functional or reporting currency for MR to consolidate them. Let's say that I have two companies, one with a functional currency of USD and another with CAD. I want to consolidate them and see the amounts in USD. In my CAD company, I would need to have an exchange rate set up between CAD and USD. In MR, I would need to select the USD currency in the Currency Display cell of the column definition. I can add both companies to the report tree and when the report is generated, both companies would display in USD.
The KB article below has steps for setting up currency translation in GP.
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