Description of the process that you must complete before you post multicurrency intercompany transactions in Microsoft Dynamics GP

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INTRODUCTION

This article describes a process that you must complete before you post intercompany transactions in Microsoft Dynamics GP when each company has a different functional currency.

MORE INFORMATION

Consider the following scenario. You want to post an intercompany transaction. The companies are the TWO originating company and the TEST destination company. The Z-US$ currency is the functional currency for the TWO originating company. The Z-C$ currency is the functional currency for the TEST destination company.

Before you post the multicurrency intercompany transactions, follow these steps:
  1. Grant both of the companies access to the different currencies and exchange tables. To do this, follow these steps:
    1. On the Tools menu, point to Setup, point to System, and then click Multicurrency Access.
    2. In the Currencies area, click Z-US$.
    3. In the table next to the Currencies area, click to select the Access check box for both the TWO originating company and the TEST destination company.
    4. In the Exchange Table IDs area, click an exchange table identifier, and then click to select the Access check box in the table next to the Exchange Table IDs area for both the TWO originating company and the TEST destination company.
    5. Repeat step 1d for each exchange table identifier.
    6. In the Currencies area, click Z-C$.
    7. In the table next to the Currencies area, click to select the Access check box for both the TWO originating company and the TEST destination company.
    8. In the Exchange Table IDs area, click an exchange table identifier, and then click to select the Access check box in the table next to the Exchange Table IDs area for both the TWO originating company and the TEST destination company.
    9. Repeat step 1h for each exchange table identifier.
    10. Click OK to close the Multicurrency Access Setup window.
  2. Use the Intercompany Setup window to establish an intercompany relationship between the two companies. To do this, follow these steps:
    1. On the Tools menu, point to Setup, point to System, and then click Intercompany.
    2. Click the lookup button next to the Originating Company ID field, click TWO in the Companies window, and then click Select.
    3. In the Destination Company Name area, click TEST.
    4. In the Originating Company area, click the lookup button next to the Due to field, click an account that you want to use in the Intercompany Accounts window, and then click Select.
    5. In the Originating Company area, click the lookup button next to the Due From field, click an account that you want to use in the Intercompany Accounts window, and then click Select.
    6. In the Destination Company area, click the lookup button next to the Due to field, click an account that you want to use in the Intercompany Accounts window, and then click Select.
    7. In the Destination Company area, click the lookup button next to the Due From field, click an account that you want to use in the Intercompany Accounts window, and then click Select.
    8. Click Save.
    9. Close the Intercompany Setup window.
    Note The accounts will be posted in their respective functional currencies. Therefore, you do not have to assign currencies to these accounts.
  3. Use the Multicurrency Exchange Rate Table Setup window to set up an exchange table identifier for the Z-US$ currency. To do this, follow these steps:
    1. On the Tools menu, point to Setup, point to System, and then click Exchange Table.
    2. In the Multicurrency Exchange Rate Table Setup window, set up an exchange table identifier for the Z-US$ currency.
    3. Click Save.
    Note You can complete step 3 in either the originating company or the destination company.
  4. Use the Select Multicurrency Rate Types window to assign rate types to the exchange table identifier. To do this, follow these steps:
    1. On the Tools menu, point to Setup, point to Financial, and then click Rate Types.
    2. Click the lookup button next to the Exchange Table ID field, select an exchange table identifier in the Exchange Tables window, and then click Select.
    3. In the Select Multicurrency Rate Types window, click the appropriate rate type in the Available Rate Types area, and then click Insert.
    4. Click Save.
    Note You must complete step 4 in the destination company.
After you complete this process, you can post an intercompany transaction in the originating company.

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Article ID: 917720 - Last Review: July 28, 2011 - Revision: 3.0
APPLIES TO
  • Microsoft Dynamics GP 2010
Keywords: 
kbinfo kbmbsmigrate KB917720

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