Can navision handle this, and if possible, to what extent?
You shouldn’t have any difficulties costing in two currencies for your items, unless I misunderstand the question. (This is assuming you have all the correct granules on your license!) You put your prices and costs on the Item card. When you are making purchases, if the Vendor has currency on the header, then you get a conversion on the item cost on the lines. The one thing I’m not sure of offhand is whether the Item ledgers are posted in currency or not… a quick review of Table 32 (Item Ledger Entry) does not show a Currency field, so I would say all items posted to that ledger are in LCY, given whichever exchange rate is on file at that point. Now, if you are looking for financial records in more than one currency, you need to go into G/L setup and select the “Additional Reporting Currency” field with the second currency you wish your reports to print out.
Navision Can handle the average cost in the local currency and the additional currency mentioned in the G/L set up. You can find this average cost in the additional currency on the reporting tab of the item card. All the item ledger entries and value entries will also have the necessary amount fields in the Additional currency.
I apologise in advance for this question!!
LCY is GBP.
USD is setup with a rate.
I have setup a vendor with currency USD.
I have a product whose vendor is setup to this vendor.
Is “Unit Cost” on the item card USD cost? I add a Unit Cost of 100.
I enter it here but when I add the product to a quote with no currency code (so should be LCY) the unit cost shows up as 100…
All costs and prices on the Item Card are in your Home Currency called LCY by NAV.
If you want to record the Supplier prices for a part use…Item Card, Purchases, Prices
The for each items / vendor combination you must enter the price in the selected currency.
Here we use 2 suppliers for the same aprts and record the price in EUR and LCY.
There is difference in Direct unit cost and Unit cost. If my LCY is CAD and i am creating Purhase Order in USD, after entering direct unit cost as 100 on same P.O. the unit cost (assuming 1USD= 1.2 CAD) will be 120 CAD. So originally the postings are always in LCY.
U always fill in Direct unit cost which is always in the currency u have filled in on the document but Unit cost is the cost which u will arrive at (always in LCY) after the conversion factor, if there is any.