modification of currency

[Sumathi]

P2P - Version RC7

Under Company- Default Settings - Accounts Settings - Changed the base
currency.

Under Chart Of Accounts:

Unable to modify currency for any account.

The change in currency is reflected for few accounts by default. The
grouping account currency is unchanged (old currency is shown) and
modification of the same is not possible.
Would like to modify the currency of Grouping accounts also. How to
proceed?

Under Company- Default Settings - Accounts Settings - What is Group
Reporting Currency?
Tried changing that option also into base currency, but that did not
help.

Any suggestions on this will be helpful.



Thanks.

[Sumathi]

A small correction on the previous post.

Modification of currency is possible only for few accounts.

[Prashant Bhat]

Hi,

In this update, we've made it mandatory to keep Equity/FixedAssets/LongTermLiability type of accounts in base currency. So, the currency field is disabled for such type of accounts. I hope, when you changed the base currency, those a/c's currencies are changed as well.

The group reporting currency is used only when the company's functional currency is different from the group/parent company's currency. If so, you can define the exchange rate to group currency in the currency master view. This will be used to generate the reports for group company reporting. If you don't have such a setup, then you may leave the group currency field undefined or keep it same as the base currency.

And in this release, all the issues you had reported have been solved! Please give them a try and also please go through the sales and purchase modules in the sample company. We're further improving the performance and other features there, but the view designs will be similar. We'll also integrate Inventory module by Nov end and we're further working on many report related improvements, adding new reports(like cashflow/more comparison reports,...) to the accounts module.

Your feedbacks on any of the features are highly appreciated and can be incorporated into the system in the early phase.

Thanks and regards,
Prashant

[Sumathi]

Hi,

Thanks for the inputs.
Yes, all the sub accounts of Equity/Fixed Assets/ Long Term Liability
is changed to the base currency. But the parent accounts(the accounts
which we check as grouping account) like Equity, Capital , Fixed
Assets, Building&Property etc., remain unchanged. They display the
previous currency only.
Will surely try out sales and purchase and give the feed back.