Problem with exchange rates

Meri

Hi,

During one implementation NAV 2009 Classic Client, we agreed with the customer: they to start entering all the transactions in the system starting from Sept and we would import the transactions through the accounts for the previous months from Jan till Aug. We did the import and now have problem with foreign customers. The thing is that when we did the import we didn't use NAV exchange rate but we imported the amounts as the customer gave us (they specified the amount and amount in LCY and we imported them without taking the exchange rate from NAV) So now, when we try to apply the entries NAV is calculating huge amounts as exchange rate gains and losses

Can you please advice me how to solve this? Is there any to do the entry application with nminor or no exchange rate gains and losses?

Thanks

jglathe

Hi,

the question is: were the exchange rates right when you imported the orders? If yes, then no problem, if no, then it's a mess.
There are ways to correct it, but they are a little non-standard. You would need a special batch adjusting the FCY amounts and the original currency factor in the C/L entry.

with best regards

Jens

lally

jglathe wrote:

Hi,

the question is: were the exchange rates right when you imported the orders? If yes, then no problem, if no, then it's a mess.
There are ways to correct it, but they are a little non-standard. You would need a special batch adjusting the FCY amounts and the original currency factor in the C/L entry.

with best regards

Jens

Can you elaborate about the batch job ?

jglathe

Hi,

lally wrote:

Can you elaborate about the batch job ?

sure The batch job must correct amounts and the original currency factor in the C/L entries. There are two possible cases:

1. The Amount (FCY) is wrong. That's the easier case, because in Standard (W1) NAV, this would mean:

- change the amount (FCY) fields in the initial detailed C/L entry
- change the originl currency factor in the C/L entry.

If the local version has Amount (FCY) in the VAT entries, those need to be changed accordingly.

If you want corrected posted documents (invoice/credit memo), change those too.

Prerequisites: The entries must be open, and no adjustments are posted.

Since the FCY amounts are not checked for consistency (balance by day), this should have no further consequences.

2. The Amount (LCY) is wrong. This one is pretty messy. The Amounts (LCY) must be adjusted, and this can have serious effects on the integrity of the G/L, it must be adjusted as well.

The probably safest way is:

- change the amount (LCY) in the detailed C/L entry,
- change the original currency factor in the C/L entry,
- add a posting for the G/L side:
- difference (LCY) on the accounts receivable
- proportional counterpart on the other accounts touched by the transaction, with the same posting setup. This means that you need only the directly posted G/L entries, the VAT posting setup needs to be the same, though.

The G/L side can be done via a general journal. If you need to have the same transaction nos. then you need to do all the posting by coding it yourself.

with best regards

Jens