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transferring between bank accounts using different currency

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Posted on by Jamesd123456

Hi I know how to transfer between bank accounts with the same currency, but Im not following how you do it for ones that use different currencies - can someone advise please

Ive followed this link:

https://docs.microsoft.com/en-gb/dynamics365/business-central/bank-how-transfer-bank-funds

I want to transfer say £10k in STERLING to a EURO account

I enter a general journal, then use the sterling bank account, enter -£10k in the amount.....but as soon as I choose the suro account as bal account no, it converts the amount in LCY & puts the currency code as EUR Its as though you can only transfer Euros to Sterling?

Adding a second line to the journal just posts a second transaction some im a little bit stuck!!

Many thanks

James

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Financial Management

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Jamesd123456 40 on at

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RE: transferring between bank accounts using different currency

Hi many thanks, that answered my question
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Inge M. Bruvik 32,744 Moderator on at

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RE: transferring between bank accounts using different currency

On the secound line in your journal you need to input the amount in EUR that was debited on your EUR account.

And then you have to make sure the the amounts in LCY on the two lines balances.

Or you have to put in a 3. line where you post the gain/loss based on the difference between the GBP and EUR transaction.

Personally i prefer to make sure the LCY amounts on the two lines matches.

A bank account will only accept transactions in the currency that is defined on the bank account. So you can not do a journal line in GBP to a bank account defined in EUR.