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
Good morning Douglas
We use a small ISV from InterDyn BMI that takes the balance sheet at month end and converts it from one currency to another at the specified exchange rate. We go from $Can to $US each month. It posts a JE into our Canada- $US database so that we can use in consolidated financials.
If this sounds like something you can use, I will give you the contact info at InterDyn-BMI. Let me know.
If you've found this thread useful, dive deeper into User Group community content by role