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September 08, 2020

Advantage launches new General Ledger Foreign Currency Revaluation module for Dynamics 365 Business Central Users

We’re pleased to reveal that we have successfully built our very own General Ledger Foreign Currency Revaluation module designed specifically for Dynamics 365 Business Central users. 

So just what does Advantage’s new General Ledger Foreign Currency Revaluation module do? 

As part of a period-end or year-end process, accounting conventions need general ledger account balances reported in foreign currencies to be revalued using different exchange rate types (current, historical, average and so on).  

To provide you with an example of this, one accounting convention need assets and liabilities to be revalued at the current exchange rate, fixed assets at the historical exchange rate & profit and loss accounts at the monthly average. 

This is where our General Ledger Foreign Currency Revaluation module can be used to revalue both the balance sheet and profit and loss accounts. 

What are the benefits of Advantage’s very own General Ledger Foreign Currency Revaluation module?  

The following benefits can be achieved by adopting Advantage’s General Ledger Foreign Currency Revaluation module: 

Improved accuracy 

By having this module integrated into your Business Central system will allow you to improve the accuracy of your reporting & data as the revaluation will be automatically calculated when required based on a favourable exchange rate rather than an estimate which could lead to less accurate data as well as your business potentially losing money on transactions. 

Improved efficiency 

Another benefit is the fact that by having this module in place will help to improve your overall day to day efficiency as you won’t have to complete the foreign currency revaluation manually which will free up your time to work on other equally important tasks. 

Next Steps?  

If you are business that is currently using Dynamics NAV or Dynamics GP and wanting to make the switch to Business Central to take advantage of this module or you are currently using Dynamics 365 Business Central & are looking to discuss this module further then please contact one of our many Business Central experts now who will be able to discuss how we can help your business. 

If you would like to hear more about our latest product launches then please join our mailing list now

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