Dynamics GP – Steps for adding a new Currency in Dynamics GP


This article outlines the steps needed to create a new currency in Dynamics GP. The article assumes you have the relevant security permissions to access the various windows and also the system password if one is used.

Adding a new currency

First you need to add the currency via “Tools > Setup > System > Currency”

In this case I’m adding the Japanese Yen

After the currency has been added grant your Dynamics GP companies access to the new currency via “Tools > Setup > System > Multicurrency Access”

Once in the “Multicurrency Access Setup” window select the new currency and tick the relevant companies. (this requires all users are out of the system)

Next add the “Exchange Tables” via “Tools > Setup > System > Exchange Tables”

Once in the “Multicurrency Exchange Rate Table Setup” window create the Exchange Table ID and click “Rates” and add the exchange rates.

** You can review any existing exchange tables to confirm the settings used in your system. In my example I’m choosing “Divide” as the calculation method and “Exact Date” as the default rate. You may wish to use different settings on your system.

Next you need to go back to the Multicurrency Access Setup window and grant access to the Exchange Table ID we just created.

Once the currency and exchange table have been created, and access has been granted, we just need to assign the various rate types to the exchange table. We do this via “Tools > Setup > Financial > Rate Types”

In my example I only intend to have one exchange table so I’ve assigned all the rate types to the new exchange table.

** Please note you may only have one rate type in your system. My example is based on adding a new currency for use in the Fabrikam demo company which has three rate types.

Once this is all setup I can test adding a transaction and this all works fine. I’ve added a transaction for 204 Japanese Yen which equates to 2 US Dollars.

If Inventory Items are used in your system you may also need to assign the new currency to either all or some of your Items. This can be done individually via “Cards > Inventory > Item Currency” or en masse via “Tools > Utilities > Inventory > Price List Utilities”


As you can see there are quite a few steps involved in creating a new currency but hopefully if you follow the steps outlined above it will assist you in setting this up.

Thanks for reading!

Dynamics 365 Business Central – Why do you need to specify posting groups on G/L codes?


Since I’ve been working with Dynamics 365 Business Central I’ve loved the concept of posting groups. As a way of a very brief background, posting groups are used by Dynamics 365 Business Central to gather the required G/L codes when you post a transaction. Therefore you add posting groups to entities like Customers, Vendors, Bank Accounts, Item and also more interestingly G/L codes.

Coming from a Dynamics GP background I could understand why posting groups where needed on all entities, with the exception of G/L codes? Surely if I specify a G/L code on a transaction or journal, this is the G/L code I want to post to?

In this post I hope to shed some light on why the system still requires posting groups on G/L Codes.

A Sales Transaction using a G/L Code

As way of an example lets imagine we are adding the Sales Invoice using a G/L code as per below:

This transaction looks fairly straight forward. We are posting a Sales Invoice with a revenue code of 10100 therefore we expect G/L entries of Debit Debtors and Credit this Revenue code. With this in mind why would we need posting groups defined on the G/L code?

Ok, that’s a fair point, so let’s change the transaction ever so slightly and add some line discounts.

So now we have added line discounts we need a posting to the “Sales Discount” G/L code. However how is the system going to select the correct G/L code?

You guessed it, the answer is using Posting Groups.

So, if we look at the G/L card for G/L code 10100 we can find the product posting groups:

As this is SERVICES the system will use this, in combination with the “General Business Posting Group” from the Customer card, to select the relevant discount code using the “General Posting Setup” window, in this case 10300.

Without this information the transaction would fail to post. This is why the system is requiring you to enter posting groups onto G/L codes. They are needed so the system has a method of gathering other G/L codes that might be needed on the transaction.


This is likely obvious to seasoned Dynamics NAV and BC users however its something that took me a little while to fully grasp so I thought it worth sharing.

Hopefully anyone new to Dynamics 365 Business Central found this useful. (you can also read more about posting groups in this post)

Thanks for reading!

Dynamics GP Vs Dynamics 365 Business Central – Class IDs and Templates


This is another blog in a series I’ve been writing comparing functionality in Dynamics GP to Dynamics 365 Business Central.

In this post I’ll compare Dynamics GP Class ID’s to Dynamics 365 Business Central Templates. Both offer a method to quickly setup static data like customers and vendors however as usual both offer slightly different features and functionality.

Dynamics GP – Class ID’s

When creating static data like customers or vendors in Dynamics GP you can use Class IDs to make the process more efficient. As the Class ID is stored on the customer card, we also generally advise to create Class’s as a way to group together similar customers or vendors.

Below is the Debtor “Class ID” that can be used for defaults when setting up Customers in Dynamics GP. (this is accessed via the “Tools > Setup > Sales > Debtor Class” menu option)

As you can see various options can be set on the Class that the customer will then inherit if its assigned this Class. Things like the payment terms, the credit limit, currency and so on. We also specify the default GL codes that can should be used.

Once its setup you physically assign the Class ID to your customers as per below and the customer will inherit the settings from the Class ID.

You can then make any tweaks to the customer setup after the settings from the Class have been copied. For example you may wish to have slightly different discount on this debtor to what was on the Class ID.

One interesting feature of the Class ID is, if you make a specific change on the Class ID you can then roll this down to all Customers that are assigned this Class. (or not if you prefer). For example you may change the Sales Person on a Class and roll this change down to all Customers in the Class and only this change will be rolled down. (therefore other tweaks you had made on the Customer would be unaffected)

As the Class ID is physically stored against the customer you can also run certain reports by Class ID such as the various trial balance reports.

Dynamics 365 Business Central – Templates

In Dynamics 365 Business Central we can use “Templates” to assist in creating static data such as customers and vendors.

To do this I can select “Actions > Functions > Templates” when in a customer page.

Next I can click “Actions > New Document > New”

This would present me with a “Customer Template” I can create as per below:

In this page I can set things like default payment terms, currency codes and also posting groups for GL codes.

Once I’ve entered the default information on the template I can select this when creating new customers so those settings are inherited. I can also then edit and tweak any settings that are specific to this customer.

**Please note the template you used to create a customer isn’t saved on the customer.

Also, if I’ve accidentally assigned the incorrect template to a customer I can reapply another template via the option below whilst in the customer page

I can also create a new template based on the settings of a customer that’s already been created (or any existing customer). To do this I’d select the option below in the customer page:


Both Dynamics GP and Dynamics 365 Business Central offer great solutions to improve the efficiency of entering static data.

The difference with Dynamics GP is the Class ID stays with the customer enabling you to group certain debtors and run reports based on certain Classes whereas the template is just used to copy information to the customer.

Another interesting feature of Class Ids in Dynamics GP is the ability to change the Class and roll down any changes to the associated debtors.

Thanks for reading!