Open Forum

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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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.

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Dwayne Worthy
Director, Information Systems
TNT Crane & Rigging
Houston TX

Original Message:
Sent: 08-29-2016 09:26 AM
From: Douglas Hart
Subject: Changing Functional Currency

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

------------------------------
Douglas Hart
Dynamics Administrator
Forex Capital Markets
New York City NY
------------------------------