Hi,
I am a new user of Navision 3.7. I would like to check if my company Functional currency is SGD. But we are dealing with multicurrencies. In this case, can currency revalution perform in G/L account? If yes, how to setup?
I thank you for your kind assistance.
Thanks & best regards,
Erica
Hi Erica,
Currency revaluation on G/L is only done if you have Additional reporting Currency setup. If not, the Revaluation is done on Customer, Vendor & Bank.
However, unrealized Gain/Loss is done for all open Customer/Vendor Invoices. Anyway, ensure that every Currency code that you revaluate should have been setup for Unrealized Gains/Unrealized Loss A/C codes in Currency Table.
These should be linked to the Appropriate G/L codes in Chart of Accounts. I can still recollect Navision 3.7 Currency Reval (it is a basic screen with no date filters as Version 4.0 or 5.0. is having some better options)
Steps:
Go to-General Ledger-Periodic Activities-Currency-Adjust Exchange Rates.
Leave the Currency Code field blank (Navision will take all currencies)
Posting Date: Should be a month end date or the Date in which the Currency should revalaute (pls ensure that there is an “End date” and “Currency rate” for every “currency code” in the “Currency exchange rate table” as Navision will use the end date & the Exchange Rate for Adjustment) After the “Posting date” is entered in the “Adjust Exchange Rate window” click ok.
Navision will now run a batch job for all open invoices and will post the unrealized Gain/Loss in Customer Vendor & G/L. Please test it out in your Test Data Base Navision 3.7. Have not done it in 3.7 for almost 2 years now…
Kind regards,
Reddy
Singapore.