Multiple-Currency (4+) in Navision 5.0

Dear All,

Does anyone have any experience of implementing Navision within a multiple-currency organisation? By multiple-currency I don’t just mean base and additional reporting currency, but 4 or 5 separate currencies that you have to report in.

My company is looking to invest in Navision 5.0, but I have a concern about how best to implement. We operate in numerous countries and currencies ($, Euro, Norwegian Krona amongst others) and need to report the P&L for each country in its respective currency as well as providing consolidated financial reports (in GBP & Euro).

We’ve been given an option of bespoking Navision to allow it to record the transactional currency within one company, treating each country as a cost centre and using some bespoke reporting to deliver P&L reports for separate cost centres. The advantage of this route being we have a single ledger and it will be less time consuming for our central Accounting Services team. The alternative is to treat each country as a separate company and to make use of the inter-company posting and consolidation functionality of Navision.

Regards,

Jonny

I don’t think using just cost centre (Dimension) is going to allow you to report in 4 different currency. You’ll still only have 2 currency in GL. This is the way to go. [Quote] The alternative is to treat each country as a separate company and to make use of the inter-company posting and consolidation functionality of Navision. [/Quote]

from my point of view you have to create a different company per county, try to use the same ACY in all companies, and use as LCY each country’s Local currency.

Hi Rashed,

The proposal for the single company database is to bespoke to allow for a third currency in the GL, created at time of posting, with the currency linked to a Dimension of Country; we’d have base + the “transactional” currency [be that GBP, US$, Euro…] along with the additional reporting currrency. A bespoke report would then allow us to pull out the country P&L in the relevant “transactional” currency, standard reporting for base & additional reporting currency.

Regards,

Jonny

in case you have inventory, inventory cost is written only in LCY, other than G/L this will be an issue too

I already have an seen an implementation in same Navision company using multi companies. Honestly I didn’t liked it, because it can be messy. This is only my personal opinion but other members can have a completely divergent opinion. Even if you simulate several multiple you should have another problem that is related to support more than 2 additional currencies. This can also gives some work in customization.

Having a company for each country it’s a more clean implementation. You can then consolidate desired countries in one or more report company. If you don’t want to manually use consolidation you could use some late night job to every night make consolidation in every country.

Hi Jonny,

please don’t go this bespoke route, you will be paying money for bespoke work for the next three years, and still it will never work properly.

Follow Rashed’s advice: