Expiration Dates on Exchange Rates

Microsoft Dynamics GPI’ve been doing some work with a US-based company as they implement Microsoft Dynamics GP in Europe for one of their subsidiaries (we do a fair bit of this type of work for expertise with VAT and Intrastat). One of the issues they asked for assistance with was a problem they had while importing transactions.

All of the transactions which were in the functional currency, imported without a problem, but all of those in other currencies failed.

The cause of the problem was actually quite a simple one, and one I have seen before with other clients. On the Multicurrency Exchange Rate Maintenance window, there is an Expiration date field:

Multicurrency Exchange Rate Maintenance

The Expriation Date isn’t the date the rate stops applying, but the date after which the rate cannot be used.

If you try to manually enter a transaction using the rate, you will receive a message stating that the exchange rate has expired, but this error can be swallowed by integration tools:

Microsoft Dynamics GP - The selected exchange rate has expired.

Microsoft Dynamics GP

The selected exchange rate has expired.

It is for this reason, I always recommend manually entering a transaction if it can’t be integrated.

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