I have just installed NAV 5 (clean install) and when attempting to process the first General Journal noticed that the amount was immediately rounded to the nearest whole number ie I entered 9.99 and the amount was changed to 10.00
The same happens for all types of journal entries, although inputting Budget figures works correctly.
I haven’t changed the currency defaults (the paramter is shown as 2:2 for Decimal rounding).
Please do also check the “Amount Rounding Precision” field in your General Ledger Setup table. It is usually not shown on the form, just in the table.
And the system will not let you change that value as soon as you have posted entries in your system.
So make sure this field is set to 0.01 (if that is what you need) before you start any other action (like posting) in the database.
The “Invoice Rounding Precision” uses the "Amount Rounding Precision to test if the two match (i.e. “Invoice Rounding Precision” must be compatible with “Amount rounding Precision”).
Some valid combinations are:
Amount Rounding : 0.01 → Invoice Rounding : 0.01 or 0.02 or 0.05 or 0.10 or 0,25 or 0.50 or 1.0 or 10 and so on
Amount Rounding : 0.10 → Invoice Rounding : 0.10 or 0.50 or 1.0 or 10 and so on ( 0.01 or 0.02 or 0.05 or 0.25 would not be valid)
Amount Rounding : 0.25 → Invoice Rounding : 0.25 or 0.50 or 1.0 or 10 and so on ( 0.01 or 0.02 or 0.05 would not be valid)
Amount Rounding : 1.00 → Invoice Rounding : 1.0 or 10 and so on ( 0.01 or 0.02 or 0.05 or 0.10 or 0.50 or 0.25 would not be valid)
DON’T include GBP in Currencies if it is your LCY !!!
The ONLY place where GBP in your case shows up is General Ledger Setup / LCY !!! It is a general principle with NAV that only nonLCY currencies are entered whenever needed, but for transactions in LCY the field “Currency” is ALWAYS left blank, plus, the LCY should NOT be included in “Currencies” table !
I have read and follow your instructions and it works. This is exactly the same problem I encounter. Anyway, I have this question on entering opening balances. Is it possible to enter opening balance for multiple currencies per account? If possible, how am I going to do the setup? My home currency is USD, but I have accounts opening balance in different currency,
Kindly let me know. I appreciate your prompt reply.
Let’s say I will input opening balances per currency, how will I recognized the currency used in my chart of accounts? It should not be converted to the current exchange rate of my home currency because of rate fluctuation.
Can you explain further the Relational Currency Code and the Relational Exchange Rate? If may home currency is USD then the Relational Currency is PHP or Philippine Peso I will input the converstion rate from USD to PEso?
The only thing that I have left to do if this issue does not solve today, would be to add my LCY as a foregin currency and just have to remmember always to add a currency with each transaction in general ledger.
I hope someone could have a better solution for me today