- In Microsoft Dynamics GP, point to Tools on the Microsoft Dynamics GP menu, point to Setup, point to System, and then click Multicurrency Access.
- In the Currencies list, click Functional Currency.
- Click to select the Access check box for the appropriate company, and then click OK.
- Create a backup of the company database. To do this, follow these steps:
- In Microsoft Dynamics GP, point to Maintenance on the Microsoft Dynamics GP menu, and then click Backup. The Back Up Company window opens.
- In the Company Name list, click the company name.
- Change the path of the backup file if this action is required, and then click OK.
- In Microsoft Dynamics GP, point to Tools on the Microsoft Dynamics GP menu, point to Setup, point to Financial, and then click Multicurrency.
- In the Currencies list, click Functional Currency. If the company has existing data, this may take several minutes to several hours because Microsoft Dynamics GP searches the tables to determine whether a currency exists on the transactions. If a warning message appears, contact technical support for Microsoft Dynamics GP. For information about technical support for Microsoft Dynamics GP, visit the following Microsoft Web site:
Or, telephone 1-888-477-7877 and a representative from the Microsoft Message Center will direct your call.
- In the Default Transaction Rate Types area, select rate types in the Financial field, in the Purchasing field, and in the Sales field. Then, click OK.
- A warning message appears that prompts you to run the check links process on the Multicurrency Setup tables. Click OK to close the window.
- To run the check links process, follow these steps:
- In Microsoft Dynamics GP, point to Maintenance on the Microsoft Dynamics GP menu, and then click Check Links.
- In the Series list, click Financial.
- In the Logical Tables list, click Multicurrency Setup, and then click Insert.
- Click OK.
- Click to select the Destination check box, and then click OK.
Note If you are not registered for Multicurrency Management, the check links process will not take very long because it will not update any existing transactions with the functional currency ID. Future transactions that are keyed will not store the functional currency ID either, and the currency ID field in the transactions will remain blank. However, if you are registered for Multicurrency Management, the check links process may take several minutes to several hours, depending on the number of transactions in the tables. The functional currency ID will be updated on the existing transactions. All future transactions that are keyed will also store the functional currency ID.
Note If you define a functional currency in Microsoft Dynamics GP (as required in Microsoft Dynamics GP 2013), and use Management Reporter, it is highly recommended to leave Multicurrency Management marked in the Registration window going forward. Once you set the functional currency and run check links on 'Multicurrency Setup' as prompted, the system will update the currency ID on the checkbook and all existing transactions. So if you go back at this point and unmark Multicurrency Management in the Registration window, this can cause currency ID issues, in which Management Reporter is not able to read data with mismatched currency IDs. In addition, mismatched currency ID's may also result in documents not showing up when trying to use apply windows in Payables Management, Receivables Management or Lockbox. Therefore, if you do not wish to use Multicurrency, it is still recommended to leave Multicurrency Management marked in the Registration window going forward once you set up a functional currency, and grant access to only this one currency ID going forward.
Article ID: 861642 - Last Review: 12 Aug 2014 - Revision: 1