Setting Up Currencies

I have the Financial Series II Chapter 1 on Multicurrency Operations. It says that in previous chapters you learned how to setup currencies in NAV, but I cannot find these previous chapters. I am pretty sure I know how to setup currencies, but I would like some documentation on the way Microsoft wants you to do it, just to double check. Any help would be appreciated on obtaining this documenation. I am a US company that needs to setup currencies for Great Britian, Germany and Spain. Thanks.

They were referring Financials I Training Manual. There are several references to setup payments and receivables with foreign currencies.

Exchange rates aren’t a complex setup. You can easily setup that if you know several option available and implications of those options. Don’t forget that Training Manuals are based in Demo Cronus Company and not every company fits in that model.

I believe I have setup up the currencies correctly for EUR and GBP, but when I try to do a test purchase order from a Vendor using either one of these currencies, I get the following error:

There is no Currency Exchange Rate within the filter.

Filters: Currency Code: GBP, Starting Date: “. .”

I thought I made a starting date in the card and I redid it for the currency, but I still get this error. Any help would be greatly appreciated.

When you setup Exchanges in Currency Exchange Rate starting date must before of posting date of document. Check those dates.

I checked the dates and everything should be fine. I am using the test database so I can post anytime that I need and I am trying to create a new order. I get this error message as soon as I type my vendor number in on the purchase order. I have the currency setup on the vendor that I am trying to use, but I just don’t know what else it could be looking for.

So can you please fill in the following fields for the currency of the vendor when you press the exchange rates button:

Starting Date:??
Currency Code:??
Relational Currency Code:??
Exchange Rate Amount:??
Relational Exchange Rate Amount:??

If you are using test database I assume Cronus database. Cronus will change check your current work date, please can you check work date.

Starting Date: 8/14/07

Currency Code: EUR

Relational Currency Code: (Blank)

Exchange Rate Amount: 1.0

Relational Exchange Rate Amount: 1.28

Corporate gives us fixed exchange rates to go by. This is for EUR to USD. $1.00 = 1.28 EUROS. Is this how you would set it up?

Test database is just a copy of our live database, not Cronos for your information.

It seems to be working now. I believe it had to do with the working date. Thanks for the help. It is greatly appreciated.

The above said error does not have any link with work date. i ve got the same doubt & got cleared now.

mainly it contains the following…

  1. Vndor/customer Card - In foriegn Trade tab See what the currency u ve given. Either if u ve using LCY then u no need to Provide Currency. If u even priovide INR then the error shows.

  2. In general Ledger Set up see what currency code has given.

  3. It is optional. Then Currency card. If it is link with G/L then the no series are correctly for the appropriate a/c.

So therefore the error contains " There is no currency exchange rate within the filter" doesn’t link with work date.

I hope u got idea.