Open Forum

Changing Functional Currency

  • 1.  Changing Functional Currency

    GOLD CONTRIBUTOR
    Posted 08-29-2016 09:26 AM

    To ALL

    I have been assigned the task of taking one of my UK companies from GBP(currency) to USD(currency)

    I realize that I have to create a new company as functional currency cannot be changed --- but the issue is converting data

    Management would like to have 2016 history loaded into the new company ----- and start the UK company in 2017 as USD but

    2016 data loaded ---- as if they were USD currency in 2016 ----specifically the GL20000 and GL30000

    The only way I see of doing this is pulling the GL20000 & GL30000 details and processing them as journal entries via Integration Manager

    I realize that if they want 2015 - I would have to pull the details from gl30000 and reclose 2015 in the new company

    Any insight and advice is greatly appreciated

    Doug Hart

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    Douglas Hart
    Dynamics Administrator
    Forex Capital Markets
    New York City NY
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