Why Add. Reporting Currency's Rate not follow Posting Date?

bestianhow

Hi all exports,

I have a customer used NAV 5.00 SP1 for a years already.
Now they wish to implement the Additional Reporting Currency (USD) to all the companies.
Anyway, after they ran the "Adjust Add. Reporting Currency" batch job, found that currency exchange rate is using workdate (They are expected the currency exchange rate will follow the G/L Entry's Posting Date).
Can i know why NAV use a currency rate to apply to all history data?
Got any solutions if my customer still want the reporting amount is base on posting date?


Thank you very much

jannestig

What is your setup for the USD ?

If you have GL entries posted for every day in March 2010 with that at the time had different exchange rates, but now you wish to realize these ARC amounts on the GL add teporting field

you would need to enter the day by day rate to get the correct amounts updated on the GL

When an invoice is posted it will use the FX rate of the latest USD FX rate entered so if you have an old rate of last month then it will use this rate when posting to the GL

IF you wish to update this rate for a months end average rate for consolidation you can do this in this consolidation process or you can enter a correcting figure in the relational adjustment fields

you can repeat these as often as you like.

It sounds like you are better off getting a tool to import exchange rates from an approved local source and make sure when you run the exchange rate batch job that it will apply each days rate to each transaction posting date.

bestianhow

hi jannestig,
Thanks for reply.
They have maintain the Currency Exchange Rate by monthly basis.
But the customer already have transactions in table 17 G/L Entry. Now, they want to activate the ARC at G/L Setup.
After they selected the USD, system will run the report 86 Adjust Add. Reporting Currency. Everything finished, they found that the system will use 1 rate applied to all history transactions in table 17 G/L Entry. They are disagreed on the result.

If i change the Adjust Add. Reporting Currency batch job with follow the G/L Entry's Posting Date. Got any impact?

Thanks.

jannestig

If i follow what you say they have taken all transactions for a month

and applied 1 rate to the whole lot and the ARC figures they do not agree with.

Can you expand on why they do not agree with the figures is the maths wrong or ?

I would see why they say its wrong and if required enter a months ending rate again on the adjustment field and run it again as it only affects the ARC field not the GL amount fields.

Can you take a screenshot of the Rinngit > USD exchange rate setup

bestianhow

Hi jannestig,
Please find the attachment.

Thanks.

jannestig

I entered it as you did and got the expected result everytime.

What i have done differently from you is setup the USD with Relational currency code of my LCY

I have then setup my LCY code with just a 1:1 (You must setup your LCY as a currency code if you haven't already.

The easiest way to see what exchange rate is being used is to enter invoice or GL journal in USD and then click F9 or the currency tab and it will show you how it is calculating the FX rate

From you say you haven't run the exchange rate batch job again. Run the Batch by monthly period in your exchange rate setup table. and it will use the relational adjustment rate to recalculate. You can ran the exchange rate job as many times as you like.

samlauncher

hey guys can anybody tell me how to get daily currency rates…