Functionality in Dynamics GP Compared to D365 Business Central | Multicurrency

Discover how to manage Multicurrency processes in Dynamics GP and Dynamics 365 Business Central with a detailed function-to-function comparison to help your transition from Dynamics GP to D365 Business Central.

Topics Covered:

• Setting up accounts to allow revaluation
• Managing exchange rates
• Gain and loss accounts
• Performing revaluation at the GL level

Transcript below:

– [Katie] Good morning, everyone. Thank you for joining us today for our webinar, “Functionality in Dynamics GP Compared to Dynamics 365 Business Central,” with a focus on multi-currency. My name is Katie, and I will be the facilitator today. If you have any questions during the presentation, please type them into the question area in the control panel on the right-hand side of your screen, and we’ll answer questions at the end. Please note that this session will be recorded and posted on our blog as well as shared with you early next week.

Now, I would like to introduce our presenter today, Don McNulty, a solutions architect here at Encore. Don, I’ll pass it over to you.

– [Don] Thank you very much. Good morning, everyone, or afternoon, depending on where you are. So here we are, functionality differentials between GP and Business Central. We’re going to talk about multi-currency today. So come on. There it goes. All right.

So we’ve done the introductions. So what I’m going to go through today is I’m going to go through a little bit of setup on how to set up a currency, and how to add in a currency and setting exchange rates, how you do it in GP, and how you will now be doing it in Business Central as you move forward. And then I got to talk about the accounts because the accounts need to be set up as to whether or not you want them to revalue or not. And I’ll be discussing multi-currency revaluation today at the GL level, okay, not at the sub-ledger level, where we’re revaluing each invoice, but at the GL level, where we’re revaluing balances at the end of the month to the current rates for things like cash accounts, and AR controls, and things like that.

I’ll also do some entry of some journals just so you can see it and how you can differentiate on the screen as to whether you are dealing in Canadian or U.S., in my case, the two that I’m using. Now, a little bit of information. I have two companies that I’ll be using. I’m using Fabrikam from GP, and in GP, I’m using Fabrikam.

And Fabrikam here is a U.S.-based company. So that is a U.S. dollar functional currency. And then I did a conversion, and I have a converted chart of accounts inside here. This one is Canadian dollars, and the functional currency will be U.S.

So we’ll talk a little bit about that. All right. So when we talk about currencies inside GP, the first thing we have to do is we have to set the currency up, and there’s a fair amount of setup, a little more setup involved in the currencies here than there is in Business Central. Basically, we go into our system setup inside here, and we click on the Currency, and we grab the different currencies.

And I’ve got a number of them here. I’m just going to use this Canadian one here. And in this case, I’ve marked it as C$ so that everything that’s got a dollar sign is U.S. dollars, everything with a C$ has got Canadian dollars. So this would be where I would set up the currency. And then after I’ve set up the currency, I have to set up the exchange tables that go with it. So I’m going to take a look at an exchange table, and then I can look at the rates.

This is where I would enter the rates. You can see I’ve got some rates from, you know, 4/1, 4/2, 4/3 of 2027 because that’s when… And I got 74, 73 cents. So I’m taking U.S., multiplying by 0.73 to give me the Canadian value. I’m using previous dates, so anything after April 1st would use this rate. Anything between March and April would use this rate.

That’s kind of how the way it works inside here. So this is how I would set them up inside here. Once they’ve been set up inside multi-currency there, the next thing that we have to do is we have to add the access. And inside here, you grab the Canadian dollar, and you then specify which companies get access to which currency.

Because in GP, the currencies are at a global level rather than a firm-by-firm basis. In Business Central, they are firm-by-firm, not global. So that’s one big difference between the two. So that’s how you set up a standard currency. And then we have some stuff we need to do underneath your finance. Inside here, very quickly, what we do is we go into our Setup and Multicurrency, and we set the rate types as AVERAGE, DEMO, or whatever it happens to be, set the averages inside here, and then apply the appropriate exchange rate to those.

So if I go into my exchange rates, which is right here, Rate Types, when I take my rate type, I take my Exchange Table of Canadian, the one that I just used, and I’m using that as AVERAGE. So that’s how this one works inside here. Attached to each currency at the currency level inside GP, we have our GL codes.

I’ll take the U.S. dollar one instead. And we can put our currencies inside here. I think it’s actually the C$, got it. So there is all of the different currency accounts, Realized Gain on Multicurrency, and things like that.

That’s where we set our general ledger account for the gains and losses on foreign exchange as it moves through accounts receivable, accounts payable, as well as through any revaluations. So that’s how we do it in GP. So then what we do is we come over to here and we click on here.

We just type in currency. We grab our currencies inside here, and we’ve got our currencies that look like this. So this currency, I’ve got my three currencies. My fourth currency is Canadian. Canadian is default. That is my functional currency, and it does not show up on this list. So these are only source currencies only.

So what I’m going to do is I’m going to click on the U.S. one here, and then I’m going to go Edit. And it’s going to open up a code inside here. We’ll pick it up in a second. There it is there. And this is where I set my unrealized gains and losses for the accounts so that I can do the same kind of transactions that we saw in GP. And then we set up the dollar.

We’ve got the rounding inside here from there and then any reporting. Now, a reporting currency is a currency that is not your functional and not the source currency. So you have three currencies inside here rather than only the two. And that reporting currency could be… So, for instance, you could have a Canadian company doing transactions in Sterling, but you want to report in U.S. dollars.

That would be what this is about. And then there are some realized gains and losses that can be attached to there. I’m not going to talk too much about the third one. We’re going to stick with the standard ones in the middle for today. So that’s the card itself. And as you saw, we’ve got everything inside here. Now, inside here, we have the ability to set all these currencies.

I’ve got the rates and things like that. There’s my exchange rates and things like that. How many decimal places, rounding precision, and things like that, unit rounding, and things like that, and how many decimals on the units. And I put the units to five decimals. So that’s why I’ve got this. And then I’ve got the rounding precision is 0.01 in order to keep it to the penny.

So everything stays to the penny. So there we are. So that’s how we set up a currency. On the exchange rate side… Whoops. And, oops, sorry, wrong one. So on the exchange rate side inside Business Central, there is the ability to do it automatically.

In other words, you can connect up currencies with an exchange rate service. So inside here, I’ve set up the Bank of Canada. And it’s not activated right now from my point of view. But basically, what you do is you come into here and you can set up this URL, which is just…you can copy and paste it.

We can send you the information on it. There’s actually a blog written by Encore. Someone at Encore wrote a blog and has shown how to do this. So basically, what we do is we put in some information down here. We then put it into a job queue. And then when the job queue comes through, what it does is it will pick up the exchange rates based on your currency codes from the Bank of Canada to Canadian, for instance.

However, if you’re a U.S.-based customer and you need to have it from there, we need to pick one from the U.S. There are two or three that are available free of charge. There are other ones that you have to actually pay for, depending on where you get your exchange rates. Most people in Canada will tend to use the Bank of Canada rate.

It is free. So if your functional currency is Canadian and you wish to use the Bank of Canada, there’s no charge, and automatically, every night, it will repopulate your transactions and give you the next rate for the next day, ready to go on that. So that’s what this does inside here. And then you can come down to the bottom, and you can manage it and things like that.

So that’s how you can set the exchange rates there. That’s the service itself. And then if I go into…I think it was under this. No, not currency. And I’m going to click on the U.S. And I’m going to go Update Exchange Rates.

Oops, that’ll pop. Yeah, sorry. That actually went out to the Bank of Canada. My apologies. And there is one in here. Where is it? It’s right there.

There’s the exchange rate list. We click on the Exchange Rates, and this is the ones that I’ve got. And you’ll notice that I’ve got 2027 listed inside here because my transactions are all in 2027, same as they are in the other one inside here. So the exchange rates can be added in here. I could add 06/01/27, like so, come across to here. I can put in the Relational Exchange Rate of 1.45.

And there we are there. And 1.45, there we are. Perfect. Done. So now I’ve added another exchange rate at 1.45 instead of 1.41. So if anything happened after June, it would happen. Again, the same thing.

In between these dates, it will always look to the previous one. So that’s how I’ve got it set up. Fixed exchange rate and things like that. So that’s all set to go. So I can hit Close. It’s been saved. Let me just click off of it and go Close.

So that’s how we set up the exchange rates. Now, once we’ve set up the exchange rates, if we wish to revalue the account, inside GP, what we do is we go to Account Maintenance and we look up the cash account in Canada. There it is there. And we click on the Currency button.

And when we click on the Currency button in the Account Maintenance, we get this list. And this list allows me to revalue my account. This little toggle here turns it on and off. And I’m going to redo it based on the period balance. So at the end of each month, I’m going to say I’ve got $100,000 Canadian and I need to move it from 1.41 to 1.44.

So I need to recognize my gain and loss on foreign exchange for that three-cent differential. And down here, it tells you which currencies I wish to revalue for this particular account. Ordinarily, you’d only have one in here. My demo has a whole swath of them. So I just select them all so that it can be revalued. So I can revalue anything that came through this account. So that’s how we set that up for here, because we’ve got the dollar values and things like that.

Now, inside Business Central, you dovery much the same thing. You go to Finance, you go to Chart of Accounts, which gives you the list of your chart of accounts. And then inside here, you click on the value inside here, the G/L code. Brings it up and it will have a Revaluation tab inside here. And inside here, we can turn on and off whether or not it is an unrealized or realized valuation. If it’s unrealized, it puts it to the unrealized accounts.

If it’s realized, it puts it to the realized accounts. Depending on what you’re doing, it will depend. So, for instance, an unrealized revaluation would be accounts receivable and accounts payable. So with accounts receivable or accounts payable, we bring the invoice in at 1.4, we pay it at 1.45. That five-cent gets automatically recognized by the AP system as a realized gain and loss on foreign exchange.

At the end of the month, I may have outstanding invoices in that particular G/L code. So I’d want an unrealized entry, which basically debits and credits it at the same time. So basically, what it does is it takes it out for February 28th and puts it back in on March the 1st, so that when the revaluation for AP or AR, or invoices are done, it automatically is correct.

Cash accounts, on the other hand, need to be reconciled and they do not automatically reconcile between the two. So they are not unrealized, but they are realized gains. So that would be something that you would set. So I’ve got it set here as an unrealized gain, so it would hit the unrealized portion, but I can easily just turn it to unrealized gain by turning that one on and off like so.

So that’s what we’ve got there. So then the next questions is, how do I know what it is? So when I look at a screen, this is all in Canadian dollars, as you can see here, the 68,503. When I click on the 68,503 in Business Central, it shows me a list of the accounts. So what I’ve done here is I’ve added these two things here.

We have a Source Currency Code and a Source Currency Amount. The trick inside Business Central is that anytime you see the dollar value with the dollar in brackets, that is functional, what we refer to in GP as functional currency. Originating currency or source currency in Business Central has got a source currency code and an amount.

And you’ll see here that you can see on these transactions that the bottom three transactions, which are the ones that I moved across, they have no source currency attached to them. They are strictly in, in this case, Canadian dollars. You’ll notice that what I’ve done is I’ve removed it so that it does not affect…completely removed it so that these three transactions go to zero, so it doesn’t affect my revaluation onthe total dollar value, so you can see the total dollar value.

Inside my debits, these are all in U.S., those are all in Canadian, and the ones right beside it, you can see are the U.S. equivalents. You’ll see here 10,000 became 13,900, so it was at 1.39, this was at 1.40, and this was at 1.30. No problem.

We got no issues with those. You see these three transactions here, they have functional currencies of USD and zero inside here for the source currency amount. That’s because these were done as a revaluation, okay? So this revaluation puts zero dollars against the U.S. because it doesn’t change the amount of U.S., but it does change the Canadian dollar value to move it up to a specific exchange rate, either up or down, depending on the method that you wish.

All right. So that’s how the accounts are set up. This is also how you can tell the difference between U.S. and Canadian. Now, in GP, when we come into here, right, this is a list of the transactions that are going on. So inside here, this is all in…in my case, it’s in the functional currency.

If I wanted to see what was going on in the currency, I could click on the currency code here, and I can see whether or not…I can see it’s $9,544 Canadian, 75 cents is what it’s at, so $7,158. So this makes this work.

And this is how you do it at the end of each month. If you want to see the actual transactions, when you drill on these transactions, this transaction is all done inside, in this case, in U.S. funds. If I go up to my View, there’s a Currency tab, and then you can switch between Functional, which is U.S., and Originating.

So if I click on Originating here, it’s now…you’ll see it put the C$ in front of it. That’s how you do it in GP. We set it at the currency level, as you saw. We don’t get that opportunity to set that inside Business Central, but they do have the source currency code inside here, as you can see beside you. So these are the Canadian values that are going through, and then I’ve got the ability to do that.

Now, when I print this out, Business Central and GP, both, when you print out detail inquiries, if you include the source currency amounts, because you can put different currencies into the same G/L code, they never total the source currency.

So even though I know this is a bank account, and I know all my transactions are in U.S. dollars, it still doesn’t total this up. So I do not know what the total is of that without doing a subtotal inside Excel or inside something like that. So I could send this out to Excel to do it. Same is true over here. If I go Print, and I go Screen, and I go OK, right, it just gives me this, but it doesn’t put a total here, because if I had U.S. dollar transactions, you’d see them underneath.

If I had Sterling transactions, I’d see them underneath, and adding them up would mean nothing, because it would be one dollar U.S. plus one dollar Canadian plus one Pound Sterling, does not equal three dollars, okay? So we need to…you have to be aware of that. And that is true across all of GP, and it’s also true inside Business Central.

I’ll just close that for now, okay? If I want to print this one here, I can just hit the button up at the top here, and I can go Open in Excel, and we go Open, and it should fire up Excel for me. Hopefully, it won’t take too long. It fires up Excel, puts all this data out to Excel that you see on the screen.

Now, I’ve only got the filter set to this. I could set by… A filter that I had on the Canadian side was all in one month, but that’s okay. Today it would be nice.

There it goes. So there it is there. So I could then total this stuff up like so, so that I know that it’s $49,300, okay, because that’s the total in U.S. dollars. And I could then write formulas to do that as well, and the total in Canadian dollars is my $69,923 as we saw before, and there’s…

So this is $49,300, and this is 69, so I can do some formulas and figure out the totals if I wanted to, okay? I’m just going to move… I’m just going to minimize that so that it stays open. So there we are. So that’s how we look at the accounts. So the next thing is how we enter journals. So inside GP, we go into here.

I’m going to close all the windows, and then I’m going to go to my general ledger. I’m just going to do a regular general journal entry so you can see what it looks like. So inside here, I do a regular general journal, give it a date. And then inside here, this is petty cash in Canadian.

So inside here, this is where I select my currency. So in my Currency inside here, I’m going to go into here. I’m going to grab the Canadian dollars, like so. And attached to this currency right now, it has gone out and looked up and it found 75 cents. So that is how much it’s going to do in the transaction app.

So I can come into here and I can type in my different general ledger entries. So I can go into my Cash in Bank Canada. I’m going to take $100 out of there. Let’s take $1,000, and I’m going to put it into petty cash. So inside here, I need to look up my petty cash. There it is there.

I’m going to move…and I’m going to take $1,000 Canadian. You’ll see it says 75 inside here. At the top here, if I wish to take a look at it, I can go View, I can go Currency, I can flip it back to U.S. dollars, and say, “I’m taking $750 out as expected.” So I can flip back and forth using this View and Currency. So that’s how we do it inside GP.

And then from here, I can then post this, and it will post the transaction through in U.S. dollars and then change-wise to the 75 cents. So there it is there. So that’s kind of what we would do on that side. And I don’t want to print the posting journal, so there we are. Under Business Central, what happens is I go into Finance, and I go into General Journals, and I’m just going to go Test Batch.

It’s a good place to start. So I create a batch, which is so I know whose it is. I can go like so, the Document Type, it’s a G/L Account. The Account Number here is Chase, and I’m just going to click on Chase Canada, like so. And then when I come across to here, I can specify my currency.

I can go USD. And then at that point, you’ll see there’s the dollar sign. So if I go like this and I type in, I’m going to take $1,000 out, you’ll see that it’s taken out $1,250. So I’m taking $1,000. So if I type in my…

I should actually put in $750. There we are there. And it’s using a different exchange rate, but there’s the exchange rate sitting here. And then I can go to my next line down below and type in petty cash. Whoops. Petty cash and USD.

And in this case, I’m going to put a $750 debit in. Now, in Business Central, as I went over in the seminar about the G/L, I can either enter debits and credits like this, which is what most people in GP are used to seeing, which is why I have it on the screen, or you can just key in the amounts inside here, positives and negatives, and then you do not need these two columns.

You can do without them. Again, we got a balanced entry here. It’s using the same thing. I can then go into my Post/Print. I can preview the posting. I’ll take a quick look at it so you can see it. And the G/L Entry.

And there it is there. This particular journal entry shows the U.S. dollars, and it shows the source currency amount at the end. So everything’s on your screen or on your print job as you wish. And then we can post that accordingly. So we go into Post/Print and we hit the Post. And do I want to post the journal entry lines?

I can go Yes. Or I can change the date. I’m going to go No. I’m going to click on this and I’m going to change this date to 05/01/27 because I have different exchange rates. And I’m going to change this one to 05/17/27. Whoops. Hang on, 01.

There we are there. There we are. And it’s changed the exchange rate accordingly. So that’s fine. So I can actually key in whatever I need. So I can go Post. And it says do I want to post?

Yes. It’s going to tell me that the journal entry is after today’s date, which is fine. I know that. I’m quite okay with that. We go OK. And then it posts it through. So now I’ve got more transactions.

So if I go back to my chart of accounts now and look at Chart of Accounts, and I look at 1107, you’ll see that the $67,000 has changed, and there’s my $1,000, okay? So it should be there, which it is. So there we go.

All right. So the next step that we have to do is so we come along to month-end, and we go, “Well, I need to revalue my financial statements based on the specific day.” So when I go into GP, GP has a revaluation routine. It’s called Revaluation. We click on the Revaluation, and we can click on Cash. I’ve set one up for cash. So what you do is you set up a cash one inside here.

We put on restrictions. And I’m picking up the account number, which is my…that’s my Canadian bank account that we just did. I’m doing both Canadian and Z-C$ because I use them interchangeably. I shouldn’t, but I do. And then I’m picking up Period 4, which is April, and 2027. I’m going to print the report only. I’m going to print it as unrealized.

And I’m going to go Revalue. And I click the Revalue button, I hit the Screen, and it will then print off a report that tells me exactly what it’s going to do. There it is there. So it’s saying, okay, the average is 0.73, 0.72. That’s what it is right now. And so we have no change in the CAD because I’ve got no dollar values in there. But I do have some dollar values in here.

I have C$8,554. The average exchange rate is currently 75. It’s moving it to 72. So, therefore, we’re going to $6,408. So I’ve got a $256 loss being calculated. This is ready to go in order to revalue it completely. Let me go Cancel.

Sorry, I didn’t mean to hit Print. Let me close this. I would bring up my Cash inside here, hit the Post button. Now, on a realized and unrealized gain inside GP, you decide whether or not you want to reverse the transaction. If it’s realized, it’s not reversing. If it’s unrealized, it’s reversing. So then you reverse the entry and we put this through as 04/30, and you put this one through as 05/01 is what you would do.

So that’s how you would do it. So in this case, the posting date would be 04/30/27, and then the reversing date is 05/01/27. And then it would automatically post this with the reversing entry in April. When you post this transaction, that dollar value has zero dollars in the U.S. dollar, zero dollars Canadian, and an amount in U.S.

dollars being added to the subledger, so to your ledger, so that you’ve got the right financial statements. So that’s how the GP one works from there. I’m not going to actually run it. And then inside here, what we do here is we run the currency reval, G/L Currency Revaluation.

Comes up with a list. We have to give it a journal entry number. So I’ve set one up already. I called it MC Reversing Value. There it is there. And I’m picking up the one account. I can pick up as many accounts as I like.

I can use the and sign by using this and go 1101, like so. So I can pick up the Cash Royal. There won’t be anything there to be done. And then I can add 1107, which is what I want for this one here. I’m just going to grab this one. And then I can click which currency code I wish to use, and I can do multiples in there as well. And I can filter totals and things like that if I wish to.

So inside here, I can filter totals by date or whatever it is that I need. But when I click OK, since they’re already journaled, oh, please post them. I already got stuff in there. So let me go in there. I apologize. I did it this morning to make sure it worked and then promptly forgot to delete it. So what happens is that when I’m in multi-currency inside here, this must be an empty batch.

So I can go into here, and I’m just going to hit this and Delete. There we are. And then I’ll go back to my currency reval. And then when I click OK, the report takes a while.

There it is there. Currency has been created. We go OK. So this is now showing you inside here that I’ve got the unrealized gain. And then, as I… Whoops. There is the $500, etc.

And then we’ve got the $500 change. And this is then going to be posted with the zero values. So if I go Post/Print and I preview the posting, yeah, yeah, that’s fine. There it is there.

You see debits and credit amounts in the dollar values only. Dollar amount is there, $500 U.S. It’s being revalued. And you’ll see that the Source Currency Amount is zero, so it’s not changing the U.S. value of the bank account, it is only changing the Canadian, and as it happens, it worked out to $500, and that is the correct mathematics. I did the check to make sure that it was there.

Okay. What have we got? All right, 4/30. Okay, so that’s how we do the periodic revaluation. So realized gains and losses also occur when you pay invoices through accounts payable or receive cash from accounts payable or accounts receivable.

So what happens is that when you book your invoices into accounts payable, so if I go back to here and I hit the Accounts Payable inside Purchasing, and I look at… Let me just go back to… Let me do it this way. General Journal, we’ll go TEST.

So inside here, I can create a vote, I can create… Instead of using a document type of a G/L code, I’m going to type in a vendor. So underneath my vendor, the account is going to be Ace Travel. The currency code will be USD. And then my Debit Amount, Credit Amount, and then I’ve got that same information inside here.

I can type in the minus $1,000. That’s the $1,250, and then the offset code is going to be a G/L code, and I’m going to type in travel inside here, because in Business Central you’re allowed to do this on a single line. There’s the travel account.

I’m good like that. So at this point here, I’m using an exchange rate there, and if I go like this, and I Post/Print, and I preview the posting, this will add it to the subledger at $1,250 U.S. going in. It’s going to have $1,000 U.S., $1,250 Canadian, it’s going to Ace Travel and things like that.

So I’m good. So I can see everything that I need to see there. And I can post this through, and then I can pay for it with U.S. dollars. If I pay for it at a different exchange rate, the difference between the exchange rate that I pay it, it will take the $1,000 out of the U.S., so that’ll wipe itself out.

But if I use 1.3 instead of 1.25, then it would multiply by 1.3, you would have the differential. The $50 differential would end up in your foreign exchange gain and loss based upon your currency. The same is also true when you go into Payables inside here. If I click on my Transaction Entry, when I pop down through here and I grab Ace Travel, which is the same company, whoops, Cancel, and I can grab a currency inside here, I can grab my Canadian dollars, like so, and I type in $1,000.

And then when I click on my Distributions, you’ll see $750, $750. When I expand this out, it shows me the $1,000 underneath. So it’s doing exactly the same thing.

And again, if I pay for this at a different exchange rate, then the gain and loss on foreign exchange will be recorded at the time that the transaction is extinguished within your books of record. We can go OK, and we can go Post. There we are. And then that will post that through. And then I could print the check accordingly. Okay.

I did promise Katie that I would be finished in 35 minutes, and we’re at 34, so I think I’m done. I think we’ve got a couple of questions out there. And if you’ve got any questions, that would be great. That’s the next step, is any questions on what I’ve covered so far?

– All right. Thanks, Don. You made perfect timing. So again, if anyone does have any questions, please enter them into the question area in the control panel. One that I have here, and I believe you may have covered it at the beginning, but how can you tell which currency is being transacted, and how can you tell which currency is being displayed on various pages?

And I believe these are for Business Central.

– I’ll show it again. So when we set up a currency ID inside GP, underneath our Multicurrency here, whoops, just got to go up a bit. When I set up my currency and I look at my… So when I look at my U.S. dollar, for instance, inside here, I just have a dollar sign.

So every single number that comes out of GP is going to have a dollar sign in front of it, and that’s the way that GP handles it. So then when I look at a foreign currency and I grab Canadian dollars, this one here, we got a C$. So we know that that is going to be Canadian dollars. So we can see on the screen on each of the numbers as to whether we’ve got a dollar sign, that would be functional, and a C$, which would be your source currency.

In Business Central, it doesn’t do that particular piece, but what it does do is it shows as part of the… Let me go into my chart again. So when you look at debit accounts, credit accounts, balances, and net changes, as I click on any of these, if I click into this one here, for instance, we take $3,104.

So inside here, it has both a source currency as well as the debit, credit, and dollar amount. Anything with these dollar signs, by default, they have dollar signs on them. So I’ve added a few of these because I like to see both currencies on my screen, so I have added them. You can easily change this using what they call the Design mode.

You come into here, and it will design, and you can move these around and, like, drag and drop these the way you want them, move them where you want them, and you can add fields and things like that. So that’s something that you can do. I have done that here, and I’ve added the Source and the Source Currency and the Source Currency amount. We do that to a number of different locations.

You can design it for the whole firm, or you can design it just for you personally, personalization, and then that will then give you that. But this dollar sign underneath is always functional, and then the Source Currency will show it without the different indication there, but you then need to add the currency so you know which one it is. So that’s why I put both on at this point, and that’s how you do it in Business Central.

So hopefully, that answers the question from that point of view, and it’s everywhere that you go. So if I go into my Purchasing, and I grab my Purchase Invoices, and I grab a purchase invoice, and I take a look at this one here, I think this one’s in Canadian dollars, so it’s in Functional.

So inside here, you have Invoice Details and things like that, and Show Less and Show More. You can change the currencies according to the remit vendors and things like that, and then this is… You’ll notice that it’s all in CAD. So it’s all showing you CAD, so you know that you’re dealing in Canadian dollars inside here. And then you can change your currency based on the customer as well, so on the vendor.

So that’s how you would do it from that point of view. If I go back to here and go New, and I want to exit, I click on New, I can then change the things that I need to change in order to make it pick up the U.S. dollar. So there it is there.

I can pick up a different customer, and then Show Less and Show More. So there it is there. And so that’s how you can then put things through here as to what currency it is and things like that, and it’ll change the whole document. So the currency code is set right here, and you just set your currency to what you wish, Canadian, in this case U.S. So if I go to the top and type in Ace Travel, and I scroll to the bottom, it’s got no currency there, but I can click on USD, and now you’ll notice these have all changed to USD, and you’re entering everything in U.S dollars.

It is actually recording in the background. It’s recording it in Canadian dollars as well. So it does the same kind of thing as the GP one does. It’s just a slightly different way of doing it. To be honest, of the two, Business Central handles multi-currency a lot better than the GP, primarily because of where it was written. Business Central was originally written out of Denmark, and they understand multi-currency a lot better than anybody in North America does, because we tend to run dual currency, not multi.

So things like moving things between a Canadian bank account and a U.S. bank account and a Sterling bank account can be done a lot easier inside Business Central than they can be inside GP, because GP does not allow you to triangulate transactions. So it’s a matter of how you want to do it.

So they’ve got a number of different ways of handling it inside Business Central. So that should help. You had another question too, Katie?

– Those were the two questions that we saw in the chat box. But again, if anyone does have any that are coming through, we’re happy to answer those here. If you did submit a question in the pre-webinar survey and we didn’t get back to you, we’ll be sure to get back to you later today or have your account manager reach out to you separately. I will be adding a link to our events page in the chat box.

If you’d like to check out past webinars or register for upcoming sessions, which we do have quite a few upcoming GP to BC sessions. Don, the next one you’re hosting is actually on October 9th. That is “Sales Order Processing and Invoicing.” So you can register for that session through that link.

– Right. And the other ones after that, we’ll then finish off the distribution series of sales order processing first. I think purchase order second, and inventory third. I may have those last two backwards. I have already done a general ledger one. I’ve done accounts payable one and accounts receivable and a bank record.

So they are all posted already. So those four are already done. And then I’ve got this one today, and then I got three more. And then we’ll continue to do these into the future and just cover off different pieces as people have comments. If you’ve got pieces that you think you’d like to see, if you can send them to us, we would be more than willing to consider them for future sessions.

– All right. Thanks, Don. I also added into that chat box a link where you can set your email preferences to opt into our emails so you can stay in the know about all those upcoming events as well as the blog articles that are posted onto our website. So both of those links are in the chat box now. All right.

So I think that’s all for today. Thank you, everyone, for joining us. And thank you, Don, for the information today. We hope to see you at our next session.

– Thanks, all.