Now You Can Transform Microsoft Dynamics 365 Business Central into a True Multi-Currency Solution!

Microsoft Dynamics 365 Business Central has multi-currency functionality in the Customer, Vendor and Bank ledgers, but does not have full multi-currency functionality in the General Ledger. The General Ledger does not include the transaction currency (TCY), so you cannot see the foreign currency amounts in the General Ledger. This is a problem for companies that have loan balances or accruals in foreign currencies, or any account with foreign currency transactions in the Balance Sheet or Income Statement other than the customer, vendor, and bank control accounts. For example, a company that has a $3 million foreign currency loan cannot revalue that loan account unless the loan is set up as a vendor account. Most companies using Business Central do not want to set up loan accounts in their vendor list since it adds non-vendor accounts into the Accounts Payable function.

The app adds full multi-currency functionality to the General Ledger and allows customers to revalue their Balance Sheet at month-end. The app facilitates compliance with IAS 21 and ASC 830.

In the standard version of Business Central, the only amounts that exist in the General Ledger Entries table are the Local Currency (“LCY”) and the Additional Reporting Currency (“ACY”). This app adds the Transaction Currency ("TCY") so that it can be used to revalue foreign currency balances in Balance Sheet accounts and provide visibility on foreign exchange exposure.

The multi-currency app adds a flag to the General Ledger Setup to indicate whether the company is following IAS 21. If selected, Balance Sheet accounts will have the Exchange Rate Adjustment field set to Adjust Additional-Currency Amount (other than certain accounts that are in the General Posting Setup or in the tax setup or exchange difference accounts) and Income Statement accounts will be set to No Adjustment. These settings can be manually over-ridden for specific accounts as needed.

To meet GAAP requirements, we have added a Suppress Revaluation flag to the chart of accounts, which will be turned on or off for Balance Sheet accounts as prompted in the guided setup process, and turned on for Income Statement accounts so they are not revalued. This setting can be changed manually as needed, by account.

When revaluing the ACY, Business Central can be set up to post exchange gains and losses for ACY into Other Comprehensive Income, which is an account in the equity section of the Balance Sheet.

We have added a new simplified exchange rate page which is more intuitive than the standard exchange rates page.

Apptitude's Multi-Currency General Ledger app transforms Business Central into a true multi-currency General Ledger.

Setup & Implementation:

While its not required, we strongly recommend purchasing our 1 hour flat rate setup fee for $250 to implement the app and make sure you are utilizing the app to its full potential. Please contact us to schedule your setup.

Supported Editions:

This app supports Essential and Premium editions of Microsoft Dynamics 365 Business Central.

Supported Countries:
Canada
United States
United Kingdom

Supported Languages:

The app is available in English (United States)