Foreign Currency Revaluation

We have many FCY Purchases esp. EURO/GBP and at the end of month, we want to revalue the AP to match what we will actually pay, if we were to make the payment and that day How do we process this issue

Use the “Adjust Exchange Rates” process, in General Ledger, Periodic Activites, Currency. This process will adjust the submodule with FCY entries (banks, AR, AP) with the revaluation exchange rate that you specify in the Currency Exchange Rate table for that day. No manual handling necessary at all. Saludos Nils

Hi, When I try to run Adjust Exchange rate batch job I receive an error message as follows “Gen Posting Type must not be in Gen Journal Line Journal Template Name=”, Journal Batch Name=", Line No=0". Not sure what I am doing wrong. Thanks in advance, Sharon.

quote:


Originally posted by nilsm
Use the “Adjust Exchange Rates” process, in General Ledger, Periodic Activites, Currency. This process will adjust the submodule with FCY entries (banks, AR, AP) with the revaluation exchange rate that you specify in the Currency Exchange Rate table for that day. No manual handling necessary at all. Saludos Nils


Hi Sharon On your G/L realised (or unrealised) gains/losses accounts you have probably got a posting group or groups set, i.e. Gen Bus, Gen Prod, VAT Bus or VAT Prod (I assume you use VAT in Canada) set as default. The system will be trying to post to one of these accounts and will require a General Posting Type. In reality you should not have any posting groups against these accounts, unless you need to claim or pay VAT on currency adjustments (I don’t know Canadian rules on this). What to do: 1. take off all default posting groups on the G/L accounts used in realised (unrealised) gains or losses. Use this option if there is no VAT implications. 2. set the Gen Posting Type as default to sale or purchase on the relaised (unrealised) accounts if there is a VAT implication, i.e. you need to pay or claim VAT on currency realisation. Hope this helps Cheers Peter

Hi Peter, Thanks for your response. I guess I should also clarify that we are a Canadian company that owns a US subsidiary. We are trying to setup our US sub to report CDN and have set up the Additional Reporting Currency as CDN. We have been trying to figure out how to get the CDN currency to revaluate properly. I’ve checked the GL accounts we are using for realized/unrealized gains/losses on FX and there were already no default values setup for General Posting Type or Posting Groups. Also the Exchange Rate Adjustment field has been set to “No Adjustment” (not sure if that is correct). In theory there should be changes in CDN but not in USD when we run a revaluation. Would appreciate any other feedback. Sharon.

Hi Sharon Do you have any residual or realised G/L gains losses accounts set? You can e-mail me on pwhite@au.eclipsecomputing.com if you continue having problems as I am about to log out of here. Cheers Peter

We have set up two accounts. One GL account for realized gains/losses and another for unrealized. Under the currency setup table for Canadian currency (the add’n reporting currency) we have populated the realized/unrealized gains/losses field with the above mentioned GL. For US currency we have left the field blank and I am still receiving the error message “Gen Posting Type must not be in Gen Posting Line Journal Template Name=”,Journal Batch Name=",Line No=0". Also, in Canada there is no VAT on FX gains/losses. Does anyone have any recommendations as to where we can obtain more comprehensive info with using Navision’s foreign currency features? Our overall problem is that we haven’t figured out how to get the Cdn currency to revalue properly and there are not too many Navision users locally.