Turn Business Central into a full multi-currency system, enabling any account to be revalued, monitor your foreign currency exposure, and predict exchange gains or losses by analyzing projected exchange rate movements.

The app adds full multi-currency functionality to the General Ledger and allows companies to revalue their Balance Sheet at month-end. In addition, 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”), plus a “source currency” that can be added for individual accounts. This app adds a more global approach by adding the Transaction Currency ("TCY") to the General Ledger Entries table 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 (1) 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 can 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 Additional Reporting Currency (ACY), Business Central can be set up to post exchange gains and losses for ACY into Other Comprehensive Income.

We have added a new simplified exchange rates page which is more intuitive than the standard exchange rates page. Exchange rate services will continue to work without the need for any changes.

Finally, a currency exposure report has been added to facilitate "what-if" scenarios, so you can see the impact of exchange rate fluctuations. For example, you can answer questions like “what is the impact of an increase in the Euro exchange rate of 2%”? This report will pinpoint the gains or losses resulting from this projected exchange rate. This feature alone can save your organization money by providing you with the information needed to hedge against potential exchange losses.

Apptitude's Multi Currency General Ledger app transforms Business Central into a true multicurrency General Ledger.