Chapter 7_Multicurrency Phase II 12.2

This chapter describes Phase II of Multicurrency.
This chapter contains the following sections:

• Multicurrency

• Cinch Multicurrency

• Areas not Included in Multicurrency Phase II

Multicurrency
Currency records track information about how the currency will be used in Microsoft Dynamics GP, as well as how it appears in windows and on reports. Refer to Microsoft Dynamics GP System Setup Manual on setting up multicurrency.
The Multicurrency Setup window is used to specify functional and reporting currencies for each company.

• Functional currency is the primary currency the company uses for maintaining accounting records.

• Reporting currency is used to convert functional currency amount to another currency on inquiries and reports.

The Currency list button on windows changes the currency view so you can display multicurrency transactions in the originating or the functional currency.
Shortcut buttons to view currencies are:

• View Functional Currency = CTRL + U

• View Originating Currency = CTRL + O

• View Reporting Currency = CTRL + R

Cinch Multicurrency
Phase 1 was included in Cinch 12.1 and consisted of getting the table structure in place on Outbound Cinch Grain and Cinch Sales to support both functional and originating values.

You must setup a functional currency, even if you're not using Multicurrency.

Phase II includes adding the table structure to Inbound Cinch Grain to support both functional and originating values and allows Multi Currency to be enabled and used throughout Cinch.

• Enable Cinch Multicurrency

  • Mark Enable Multi-Currency checkbox on General Setup

• Posting Setup

  • Mark the Include Multicurrency Info checkbox on Posting Setup for both originating and functional values to be captured on the posting journals.

• Exchange Rate

  • The Exchange Rate is captured when a transaction is created.

  • When a transaction is processed that generates a GL transaction, the system will capture and lock the cost and exchange rate based on the transaction date (example scale ticket posting).

  • Further processing of a transaction (example processing a settlement) will capture and lock the cost and exchange rate based on the transaction date and a realized gain/loss will be calculated between the transaction costs due to the exchange rate.

• Ticket Owner Spot Price

  • Within the Ticket Owner for a Split Scale Ticket, Spot Price will inherit the currency from the ticket. If user needs to spot a split partner in a different currency the contract will have to be manually created then applied.

Areas not included in Multicurrency Phase II
Below are areas of Cinch not multicurrency enabled in Phase II.

• Risk Management

  • Futures and Options

• Price Schedule Entry – (Transactions>Cinch Grain>Futures Price Schedule)

• Assign Shipments – (Transactions>Cinch Grain>Sales\Outbound>Assign Shipments)

• RCA Functionality

• RFD Markup Maintenance – (Cards>Cinch Sales>RFD Markup Maintenance)

• Uninvoiced Shipments – (Transactions>Cinch Grain>Sales\Outbound>Uninvoiced Shipments)

• Credit Limit Inquiry – (Inquiry>Cinch Sales>Credit Limit Warning)

• Credit Limit Override Inquiry – (Inquiry>Cinch Sales>Credit Limit Override Inquiry)

• Customer Balance Inquiry – (Inquiry>Cinch Sales>Customer Balance)

• Bookings Inquiry List – (Inquiry>Cinch Sales>Booking Inquiry)

• Item Long Short Inquiry, currency portion displays functional values.

• Purchase Load Inquiry – (Inquiry>Cinch Grain>Sales/Outbound>Purchase Load Inquiry)

• Shipment Invoicing, by design will not support multicurrency

• Cinch Savings & Loan

• Cinch Portal

• Cinch Insight

• Cinch Patronage