Changing Account Currency

[former_member505219]

SBO 8.82 help states under Chart of Accounts Window that If you define a foreign currency account and record transactions for it, you cannot later change the account currency or perform transactions in any currency other than the defined account currency.

But at the end of same help file, there are FAQs and this is mentioned.

Q:Is it possible to change the currency defined for G/L Account or Business Partner after journal entries have been posted?

A:If the currency defined for this G/L account or business partner is either the local currency or a specific foreign currency, it is possible to change it to All Currencies. If the originally specified currency is All Currencies, it is not possible to change it.

These both are contradictory. Can you please tell which statement is correct?

[jitin_chawla]

Hi,

Both the statements are not contradictory but somewhat mentioning a fact that the G\L Account currency once defined can only be changed to 'All Currencies' after transactions are performed but after changing to the 'All Currencies' cannot be rolled back to a single defined currency code.

The statement under the Chart of Accounts window provides you with the explanation that if an account is defined as FC Account and then transactions are recorded, a change cannot be done to that currency code [meaning you cannot change it from USD (if defined) to CAN(another FC)].

However, FAQ is a common question asked, which explains the same thing in a more detailed way that such FC Account can have currency as 'All Currencies' but if the same is defined, the account currency cannot be changed back to LC or FC again.

Hope it clears your doubts on the functionality.

Kind Regards,

Jitin

SAP Business One Forum Team

[former_member325312]

Hi Muhammad

What Rahul has told  is exact meaning  of those statement .Go with his statement .

Regards

Jenny

[Former Member]

Hi Muhammad.....

This statement meaning

If you can set All Currencies to BP/GL accounts any time and you can take them into transactions for any currency. But once you set All currency you cannot set that again to the particular FC/LC.

Hope this clarifies you....

Regards,

Rahul