Add a currency on Microsoft Dynamics Nav Business Central

Hello friends,

Currency on Microsoft Dynamics Nav Business Central is used for the automatic conversion of foreign currencies.  In today's tutorial, we will learn how to set up Currencies on the system.

Step 1:

To add a currency go on the following path:

Main Menu --> Department --> Financial Management --> Setup --> General --> Currencies

Add the following information:

Code	Enter a code for the currency
Description	Give a description to the currency

Step 2:

After creating the currency we need to enter the exchange rate for the currency so that the system can do the conversion.

To create an exchange, click on the button Exch. Rate and then on the button New.

Now add the following information:

Starting Date	The date the exchange rate will be effective
Currency Code	The currency code
Relational Currency	Let this field be blank
Exchange Rate Amount	Use 1.0
Relation Exch. Rate Amount	Enter the currency exchange rate
Adjustment Exch Rate Amount	Let the amount to 0.0
Relational Adjmt Exch Rate Amt	Let the amount to 0.0
Fix Exchange Rate Amount	Let the field be Currency

Note: whenever you need to change the exchange rate, do not discard the old one.  Just add a new line with a new effective date. The aim is to keep a history of the exchange rate.

Hopefully, this tutorial answers your questions. Follow me for more tutorials on Microsoft Dynamics NAV Business Central and get cracking!