An auditor asks: "Which date is used as the basis for the exchange rate on this invoice – the invoice date or another date?" Here is the short answer, and how to prove the exact rate used on any posted invoice or payment in Business Central (BC). Short answer: BC uses the exchange rate effective on the document's Posting Date (not the Document Date). The rate comes from one of two places: System rate (default): the rate maintained in the Currency Exchange Rates table. Spot rate : a rate the user keyed in on that document, which overrides the system rate. 1. How BC picks the system rate Go to Currencies , select the currency, then choose Exch. Rates . BC takes the line with the latest Starting Date on or before the document's Posting Date . LCY amount = Foreign amount × Relational Exch. Rate Amount ÷ Exchange Rate Amount Starting Date Exchange Rate Amount Relational Exch. Rate Amount Used for documents posted 2/1/2013 100 65.7023 2/1...
Answers to the Business Central questions I'm asked most — month-end, fixed assets, dimensions, and the ones that stop you posting. New here? Open Start Here in the menu above.