Local Currency Code

alien251

Is there an assumption that the LCY will always be USD in Navision..?

Here's the verbage from the online help for the LCY Code field on the GL setup card.

LCY Code Field
The General Ledger Setup Table


Enter the currency code for USD.

You can enter a maximum of 10 characters, both numbers and letters.

This code will appear on invoices and reports that are in USD.



Does this not determine the currency that's represented by journal/gl entries?


Thanks!

Dan

klavin

The online help seems to just give that as an example...

If you have a local currency that you operate in, and fill in another currency for the Additional Reporting Currency, it will use the currency exchange rates to post G/L Entries in both your local currency, and the additional reporting currency by using the method above.

So if you had a company running USD as Local currency, and decided to have additional reporting currency of GBP, the system uses the exchange rates setup for GBP to make the conversions for the ACY fields.

On the flip side you could have a company operating local currency in GBP, and additional currency as USD.

Hope this helps,

Kevin

alien251

Thank you Kevin! I appreciate your response!!

Let me give you a little background on what were doing... So we're a US based company and we've just setup a distribution center in Mexico, we've setup a new company in Nav to record sales to our Mexican customers and purchases from our US company, no manufacturing in this new company. We want to be able to report on our transaction in our Mexican company in Pesos.

Typically what are the deciding factors in choosing an LCY? So why would I want to set the LCY to use PES with ACY in USD vs. LCY=USD and ACY=PES?


Thanks!!!

Dan

klavin

The company I was working for we were a US Based company, but had a part of the same "Company" distribution in UK and Canada. Both of these companies were in their own local currency, as they were registered companies in those respective countries... For all regular accounting purposes, the GL and LCY should be that country's currency and we set the ACY as USD in those.

ACY in the US Based NAV Company was blank.