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Intercompany trading in multiple currencies.

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Posted on by AntonioKD

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Hello!

I have a problem :( I have to setup intercompany transactions between two comapnies - LCY of Parent Company is PLN and LCY of Child Company is GBP. I want to make sales order in PLN in Parent Company and send this transaction to Child Company and it should register in GBP after calculation. Unfortunaltely I can't setup this and every time the transaction registers in CHild Compnay in PLN

Could ypu help me with this? WHat should be the setup for this situation?

It is urgent :/

Thank you in advance!

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Alessandro Vannini 1 on at

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Hello David

those are the steps you need to follow:

1)Open a BC 17 or 18 and create a copy of the company

2)Leave a company with LCY set to GBP and the for the second comapany set LCY to USD

3)IN the second company you need to removed the USD currency so you need to close the customer and vendor ledger, just post a payment to close and remove the currency

4)In CRONUS create a new Intercompany partner as follow:

Code = ICP40

Name IC test

Transfer type = Database

Company Name = IC test

Receivalbe accout = 2325

Payable account =5425

5)Open Itercompany chart of account , click process and run Map to acc with same name

6)Open intercompany dimension and for all dimension click dimension and run Map to Dim

7)Create a new customer and a new vendor ( both with USD currency) and link the partner code to ICP40

8)Repeat the same steps in the second company, of course vendor and customer need to have the currency code set to blank as USD is the LCY

9)In the CRONUS company create a new sales invoice for the new customer , add a line for G/L account 8210 qty 1 unit price 100 and map the G/l Account to IC

10) post the invoice and open outbox transaction and complete line action ( Send to IC partner)

11)Open the second company go to the inbox and accept the transaction

Did they set Currency code = USD for the IC Partner in company one? - step 8

You also need to set LCY Code = USD in the second company [which I think is done in step 2]

I did a slightly different setup, using CRONUS USA, Inc. (USD) and a new "Setup" Company (running EUR)

When I send a sales Invoice for 7000 EUR from CRONUS USA to the Setup Company it will create a purchase invoice for 7000 EUR - as expected.

(Purchase invoice created in receiving company (running EUR)

With those steps you should be able to run the scenario

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AntonioKD 424 on at

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Thank you for the clarification, but what I would like to get is in the case that you have issued - an invoice in Cronus to IC TEST in GBP (not in USD) as Cronus LCY and that it is registered in IC TEST as USD after conversion of the appropriate rates. By following your steps, I don't think I will be able to get it: /

Is it even possible to send transaction in GBP (LCY) from one company and register this transaction in second company in USD (second company LCY)

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David,

If I am in CRONUS and want to send an Invoice to my customer IC TEST if Customer IC TEST is setup as GBP the Invoice will show GBP when it send over via Outbox/Inbox. In IC TEST when you import and process since you are receiving a GBP Invoice you will need the currency rate and it will convert for LCY to USD.

Thanks,

Steve

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AntonioKD 424 on at

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Steven, maybe I should describe my situation once again.

I'm processing transactions on G/L accounts, not on items.

I had one company called Cronus, where I had LCY as PLN. I copied this company, so create new called IC TEST and I set up LCY to GBP in that IC TEST. I create Intercompany Partners on both sides, without Currency code. I want to send a transaction from Cronus, where I register sales order in PLN as LCY and then I want to appear this transaction in IC Test in GBP as its LCY. I did everything that you and Alessandro said, but everytime I send transaction from Cronus in PLN it appears in IC TEST in PLN also :( It doesn't convert anything. Maybe I should do something eles.

Please, help :(

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David,

When the document comes in, since the IC Partner is GBP and you have not setup the Currency Code to PLN, it has nothing to create the Currency Exchange FX value. It thinks its GBP even though you sent PLN. Try a test whereby you send over a PLN and the IC Partner in the GBP company (LCY GBP) is set to Currency Code PLN. It should convert.

Thanks,

Steve

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AntonioKD 424 on at

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Steven still nothing :/ I set up IC Partner in GBP Company to PLN Currency Code. But i PLN and GBP company I did not set up any CUrrency Code for vendors/customers - they have blank Currency Code field on their cards.

When I send a transaction from PLN Company (lets say for 100PLN) i receive this transaction in GBP COmapny always i PLN currency and also the amount is 100PLN :/ I see it also on details for Inbox transactions. When I accept the transaction, system creates purchase document with PLN currency not GBP :/ nothing converts

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David,

Here is the test I did... I setup in 1 Company an Intercompany Partner with Currency = GBP (USD = LCY). I created another Company that had GBP as LCY and Vendor = USD. I then create in Company 1 a Sales Invoice as GBP and sent to Outbox.

I then in Company 2 Accepted the Invoice and created a Purchase Invoice.

My rates are not the same but the process works and receives in the intercompany Invoice and creates payable on the other company.

Thanks,

Steve

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AntonioKD 424 on at

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Steven, but according to your test, I want to send sales invoice from 1 Company in USD(as its LCY) and register this in 2 company as GBP (its LCY).

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David,

Using the Intercompany functionality with BC requires all the setup to be completed. This means in Company 1, which has an LCY of USD, the IC Partner would be setup with its Currency, GBP. This means the Invoicing sent to Company 2 is both GBP based and USD LCY recorded. In Company 2, which is LCY GBP, I have the Vendor Company 1 setup with USD.

Have you setup both Company and Customer and Vendors with their IC Partner setup and tried your test? My entries and posting worked.

Thanks,

Steve

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