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In my previous post, I showed how to perform a month end revaluation in Dynamics NAV with an unpaid invoice. In this post, I’ll show you how to receive cash against a foreign currency receivable. To recap: We have an open invoice that was worth 15000 MXP when we invoiced and 17250 MXP when we closed the month. The peso continued to fall, and it’s now worth 20000 when we receive the cash on November 20th. We start by going to Cash Receipt Journals and make a receipt for the full amount, in this...Read more
In my last post, I entered a sales invoice in NAV in a foreign currency. The invoice was posted on 10/5 and had a value of 1150 USD or 11,500 MXN (or MXP as Cronus has it, which still irks me). Now, it’s month end. As the invoice isn’t paid, we need to perform a revaluation (as it’s known in standard accounting parlance). The NAV system uses the terminology “adjust exchange rate.” (For more on revaluation, see my posts on exchange and revaluation and revaluation and translation.) To start,...Read more
In our previous post on understanding NAV currency, we covered the topic of NAV currency setup, including general ledger, currency and exchange rates. In this post, we’ll continue the discussion by entering a foreign currency sales invoice in NAV. As with our previous post, we’ll use Cronus Mexico for our examples. But before we start, let’s set up our currencies and exchange rates to make our examples super obvious. We begin by navigating to Currencies: And we select USD: After, let’s return...Read more