Additional Reporting Currency

Chika

Dear All,


Does NAV support multiple Additional Reporting Currency?
As I know I can change additional reporting currency in G/L Setup.

Can I have more than 2 additional reporting currency, for e.g.
I want to have report in USD, SGD, AUD and so on.

Thanks for any advice.

Regards,
Chika

navsc

Hi,
Yes, you can’t setup more than one additional reporting currency in G/L setup. If you will setup additional reporting currency, posted G/L entry records will have value in fields: Additional-Currency Amount, Add.-Currency Debit Amount, Add.-Currency Credit Amount. These values can be used for reporting in additional currency.

But it is not forbidden to create a report, that will display values in any foreign currency, according to the rates in Currency Exchange Rate table.

Regards

ayhan06

navsc wrote:

Hi,
Yes, you can’t setup more than one additional reporting currency in G/L setup. If you will setup additional reporting currency, posted G/L entry records will have value in fields: Additional-Currency Amount, Add.-Currency Debit Amount, Add.-Currency Credit Amount. These values can be used for reporting in additional currency.

But it is not forbidden to create a report, that will display values in any foreign currency, according to the rates in Currency Exchange Rate table.

Regards

yes, it is not forbidden. but how will you calculate exc. rate gain/loss accounts for second or third add. reporting currency? remember that if your transactions are in add. currency, nav does not post exc. rate gain/loss to exc.rate gain/loss account in add. currency,but does post in LCY. so, you can not correctly convert exc.rate gain/loss account using LCY or additional currency amount in G/L entries.

besides this, fa depr,ıtem costs etc are kept in their special tables in add. currency. for example, you can not convert cogs account into second or third currency in your way.

navsc

Just simplified example:
Transactions in foreign currency USD :
1.) 2008 05 01 Purchase invoice amount =100 USD. Amount LCY= 221,24. (Relational Exchange Rate Amount = 2,2124);
2.) 2008 05 15 Payment Amount= 100 USD. Amount LCY=223,23 (Relational Exchange Rate Amount = 2,2333).
3.) 2008 05 15 Realized loss posted in LCY =2,09.

Transactions in foreign currency AUD:
1.) 2008 05 01 Purchase invoice amount =100 AUD. Amount LCY= 206,72. (Relational Exchange Rate Amount = 2,0672);
2.) 2008 05 15 Payment Amount= 100 AUD. Amount LCY= 209,13 (Relational Exchange Rate Amount = 2,0913).
3.)2008 05 15 Realized loss posted in LCY = 2,41.

Report in foreign currency USD:
LCY 221,24 =USD 100
LCY 223.23 =USD 100
LCY 2.09 =USD 0.9358 (2.09/2,2333)

Report in foreign currency AUD:
LCY 206.72 = AUD 100
LCY 209.13 = AUD 100
LCY 2.41 = AUD 1.1524 (2.41/2.0913)

What’s wrong?