Exchange Rates

Business Central/NAV Technical Forum
1

Hi there,

I have question related to exchange rates. We have done quite a lot of development because the customer have 310 companies world-wide. They have 4 types of currencies:

  • LCY: GBP
  • ACY: USD
  • TCY: CAD(Transaction Currency)
  • JCY: EUR (Jurisdiction Currency)

With the current setup the transactions are calculated as follows:

  • Calculate TCY to LCY and then LCY to JCY

They want a calculation from TCY directly to JCY but this is not possible with the current setup. On the Currency Exchange Rates table there is a field ‘Relational Currency Code’ - would this be a help to set it up to use the exchange rate in this field?

Thanks

Maria

2

Hi Maria,

looks to me a question the customer needs to answer. When you work with multiple currencies, you have different methods of converting from one FCY to another. Traingulation is most commonly used, where you convert from FCY-1 to LCY and back to FCY-2.

If you would do this direct, you will have rounding issues, and it’s up to the customer to decide how he want’s to deal with that I guess.

Or is this not the answer to your question?

Ernst

3

Hi Ernst,

You are correct - We also had to create custom functionality which split posting date from tax point date. IF they have to use the currency functionality as per standard NAV, they would want the exchange rate calculation as follows:

  • TCY to LCY - Posting Date
  • LCY to JCY - Tax Point Date

The issue with this is that they would not be able to balance their accounts without reviewing all transactions manually.

If they are prepared to deal with the rounding issues, would there be a way to set up this triangular rates? How would you normally deal with the rounding issues?

Thanks for your help!

Maria

4

Maria,
you cannot use the standard Exchange rate table?

You can enter 2 currencies per line

Or is that too simple?

Ernst

5

Hi there,

No - see screenshot below. Currencies are as follows:

Scenario 4 Posting Date different to the Tax Point Date AND Invoice Currency is not the same as LCY

Transaction Currency: CAD

Jurisdiction Currency: EUR

Date: 01/07/15

Tax Point Date: 02/07/15

  • LCY: USD
  • TCY: CAD
  • JCY: EUR

The calculation will still be TCY to LCY to JCY. They want to have a rate directly from TCY to JCY and it is not possible… unless it is in a way that I do not know of.

3817.Currencies.jpg
3817.Currencies.jpg859×853 164 KB

Thanks again for your time,

Maria

6

Maria,

did you already try to call the function ExchangeAmtFCYToFCY in the table “Currency Exchange rates”?

The name suggests it does what you want.

Ernst