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Dynamics GP Management Reporter, Retained Earnings, and Currency Translation

October 30, 2014

We'd like to point out some hurdles we have seen with Dynamics GP Management Reporter and currency translation. (This KB article is a very good resource to read if you will be using Management Reporter and currency translation.)

Here are a few points I want to highlight.

On many of my implementations, I like offering the customer the option to use account categories. Management Reporter has made mapping to these categories much easier than Frx. In Frx, you have numbers as the linked value, not the actual category name like in Management Reporter. If you do build your reports using categories, it makes it easier to keep the reports up to date, as new GL account numbers require a category to be added.

If you elect to employ your custom list of categories for a customer, be sure to keep the retained earnings category at #27. Make sure you have your one "roll-up" account set to the retained earnings category, and have that category at position #27 in your category listings.  If you close two divisional accounts, you want each retained earnings account set to that category as well. Do not assign any other GL accounts to this category.

Account Category Setup

Also note that if an entry is made to the retained earnings account outside the normal BBF (balance brought forward) transactions, the MR datamart will not translate that transaction correctly. One must re-open the years and make sure retained earnings entries are made to non-retained earnings accounts so that the translation will work correctly.

As of CU9, however, the retained earnings account does not translate the correct historical balances anyway. The YTD total for the retained earnings account is being summed from all the BBF transactions and then translated at the latest year-end rate. Right now, Microsoft is hoping to have this fixed in CU10, or if not then, to release  a hotfix shortly after.

In summary, if you are translating currencies in Dynamics GP Management Reporter, use the legacy adapter for now. Check out other Dynamics GP tips and tricks throughout our blog!

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