New Company Europe

sneha

Advise me please!

Database: US 5.0SP1 (Native)

In the current database we already have one company for US transactions. We are creating a new company as EUROPE. Client says all the transactions would be in EURO currency and asking to setup Additional Reporting currency in $
So I have setup LCY Code=EUR in General Ledger, and posted one Purchase Invoice for Amount 500, I didn’t change the currency code while posting the invoice. Now I am on Vendor Card and balance of the vendor is 500, which is fine. But the caption of the of balance field showing as (Balance ($)).
Setting up LCY code as EUR is the right way to do, when client wants EURO as the base currency in Europe Company?

kapil4dynamics

It should pick up from the symbol field in currency table (I always assumed so) but unfortunately it does not, or may be i am wrong.

sneha

I am checking CaptionML property for “Balance LCY” field in vendor table:
ENU=Balance ($);ESM=Saldo ($);FRC=Solde ($);ENC=Balance ($)

In Cronus database, Is it mean it was defaulted to $ symbol?

jversusj

sneha wrote:

I am checking CaptionML property for “Balance LCY” field in vendor table:
ENU=Balance ($);ESM=Saldo ($);FRC=Solde ($);ENC=Balance ($)

In Cronus database, Is it mean it was defaulted to $ symbol?

yes - we had the same problem in our US NAV 4.0 at my old company. our EURO office just got used to translating "$"= LCY (not $ = dollar) whenever they saw it in the system.

DenSter

The currency symbol is not stored anywhere in any table, it is hardcoded in the CaptionML properties. Your local currency setup will have no effect on those captions.

For the US Locatization, all fields that have a reference to 'LCY' have been changed to '$'. The reason why this doesn't go well in other localizations is because the NAV team for some reason decided that ENU (which stands for English US) would be the global code base. What they should have done is define a global english language layer. If you want global captions to start out with (which confusingly enough are in the same ENU language layer), you need to start with the W1 version of NAV.

ara3n

I think US should either leave the caption as is LCY, or W1 should modify this and use CaptionClass and in CU 1 in one place you would specify the currency Symbol.

One way you could fix this is to export all the objects to text and do a Find and Replace From ($) to (LCY).
This issue would be make sure not to modify the date time and modified field and person doing an upgrade will have to redo this.

sneha

jversusj wrote:

sneha wrote:

I am checking CaptionML property for “Balance LCY” field in vendor table:
ENU=Balance ($);ESM=Saldo ($);FRC=Solde ($);ENC=Balance ($)

In Cronus database, Is it mean it was defaulted to $ symbol?

yes - we had the same problem in our US NAV 4.0 at my old company. our EURO office just got used to translating "$"= LCY (not $ = dollar) whenever they saw it in the system.

Thank you!

How would you suggest in our scenario.
US Company is one company in current database, and client using this company for US transactions.
Now company extended their sales to Europe and wants to create a new company as EUROPE and want to setup LCY code as EURO.

Can we recommend using USD as the base currency in EUROPE Company and EUR as the additional Reporting currency?, because client main office is located in US
(Or) they can use EUR as the base currency in Europe Company?

kapil4dynamics

Now company extended their sales to Europe and wants to create a new company as EUROPE and want to setup LCY code as EURO.

I would never buy this as a reason for opening a new company in database, by the time it is not different legal entity or may be you have skipped to mention that , I would suggest you to check at first place do they actually need another company or just because of currency somebody has suggested them.

sneha

kapil4dynamics wrote:

Now company extended their sales to Europe and wants to create a new company as EUROPE and want to setup LCY code as EURO.

I would never buy this as a reason for opening a new company in database, by the time it is not different legal entity or may be you have skipped to mention that , I would suggest you to check at first place do they actually need another company or just because of currency somebody has suggested them.

Yes, client wants to create EUROPE Company as a separate legal entity.

kapil4dynamics

Then u can create USD as LCY for US operating and Euro for European firm. While consolidating them u can get figures in any currency u want.

David_Singleton

Don't use US for this, use W1.

sneha

Client already using US Version (5.0 sp1) with US company, now we are creating new company in the same database. Does it cause any issues?

ssingla

sneha wrote:

Client already using US Version (5.0 sp1) with US company, now we are creating new company in the same database. Does it cause any issues?

Take a separate license for European Operations. US version will have lot of localization problems in Europe.

generic

ssingla wrote:

sneha wrote:

Client already using US Version (5.0 sp1) with US company, now we are creating new company in the same database. Does it cause any issues?

Take a separate license for European Operations. US version will have lot of localization problems in Europe.

You can use US database just fine in Europe.
The caption issue can be changed.
There are many companies that use a North American db in Europe.
Some countries have required localization but it wouldn't be any different than using W1.

sneha

generic wrote:

ssingla wrote:

sneha wrote:

Client already using US Version (5.0 sp1) with US company, now we are creating new company in the same database. Does it cause any issues?

Take a separate license for European Operations. US version will have lot of localization problems in Europe.

You can use US database just fine in Europe.
The caption issue can be changed.
There are many companies that use a North American db in Europe.
Some countries have required localization but it wouldn't be any different than using W1.

Thank you!