New Functionality In Microsoft Dynamics 365 Business Central 2023 Wave 1: Adjust Exchange Rates Easily, Replace The Built-In Batch Job

This post is part of the New Functionality In Microsoft Dynamics 365 Business Central 2023 Wave 1 series in which I am taking a look at the new functionality introduced in Microsoft Dynamics 365 Business Central 2023 Wave 1.

The first of the new functionality in the Application section is Adjust Exchange Rates Easily, Replace The Built-In Batch Job.

When companies operate in multiple countries or regions, it’s important that they can do business and run financial reports in more than one currency. Because exchange rates often change, businesses must periodically update the rates in Business Central. This update gives accountants additional control over how they adjust exchange rates. At the same time, partners can now extend and customize the exchange rate adjustment to meet the needs of specific industries or markets.

Enabled for: Users by admins, makers, or analysts
Public Preview: –
General Availability: Apr 2023

Feature Details

You can now preview the effect that an exchange rate adjustment will have on posting before you actually post by choosing the Preview action on the Adjust Exchange Rates report request page. Specify if you want a detailed posting to the general ledger by entry or a summarized posting by currency. Just pick the Summarize Entries field on the Adjust Exchange Rates report. You can also specify how the adjustment will handle dimensions for unrealized gains and losses postings by choosing one of the following options in the Transfer Dimension Values field:

• Source Entry: G/L entries for unrealized gains and losses will have dimensions values transferred from the entry being adjusted.
• By G/L Account: G/L entries for unrealized gains and losses will have dimensions values transferred from the unrealized gains and losses G/L account’s dimension settings source entry.
• No Transfer: G/L entries for unrealized gains and losses won’t have dimensions values.