Applying Foreign Currency Transactions

Beatrice

Hi,

In Receivables, when user applies a payment received from a foreign customer to several invoices, he receives the following message when posting the application:

You must specify Credit Rounding Account in Customer Posting Group='FOREIGN'.

What is the purpose of the above account?

Thanks and Regards,
Beatrice.

krzychub83

hm...

Every posting in NAVISION is made in Your local currency. This is why line's Amount is multiplied by actual Currency's Price, rounded(0.01) and then inserted into Amount (LCY). After all operations (*, ROUND, SUM) You may notice that total of Amounts (multiplied by Currency Price) is different from total of Amount (LCY)s (about 0.01/0.02).

I may be wrong, but general this is the purpose of this account.
I hope it will help You.
Have fun

(PS: I am a developer, not a consultant but... )

AlexWiley

krzychub83 wrote:

hm...

Every posting in NAVISION is made in Your local currency. This is why line's Amount is multiplied by actual Currency's Price, rounded(0.01) and then inserted into Amount (LCY). After all operations (*, ROUND, SUM) You may notice that total of Amounts (multiplied by Currency Price) is different from total of Amount (LCY)s (about 0.01/0.02).

I may be wrong, but general this is the purpose of this account.
I hope it will help You.
Have fun

(PS: I am a developer, not a consultant but... )

This is correct. It will round to whatever default rounding you have set (so round to 1 if you are in Yen, for example) but due to currency fluxuation your application may still be off, which is where those credit/debit accounts come in.