Hi all,
I’ve got a question from one of our subsidiaries concerning reporting Inventory Value in both LCY and Additional Currency. As to me, it seems that this functionality is limited to G/L entries, and it’s not available in Item Ledger Entries/Value Entries. If this is correct, how could they value their inventory in the additional currency?
Hi Michiel,
As far as I know, Additional Currency Reporting is only a GL tool (although I believe it includes VAT entries).
Once it has been setup, every time a GL entry is created additional currency information is also created.
So it doesn’t take a ‘snapshot’ at a reporting date, it will take into account exchange rate currency changes in the reporting currency . So, in theory, the valuation in the additional currency should be accurate.
If you can reconcile in Local Currency, then it should by default, be correct in the Reporting Currency.
(Also remember that any Currency Revaluations will change the reporting amounts)
Hope this helps.
Cheers.
John.