Business Central How-To: Exchange Rate Services

Did you know that you can use an external service to keep your currency exchange rates up to date?

Most exchange rate services provide data that is compatible with the import process in Business Central. However, sometimes the data is formatted differently and you need to customize your import process. You can use the data exchange framework to do that by adding your own codeunit. You’ll probably need some help from a developer to do that – BSL are ready and happy to help if so!

Once it’s all been setup, the process is very straightforward:

Follow the steps given to update the currency exchange rates through a service:

1. Select the  icon, enter Currencies, and then select the related link.
2. Select the Update Exchange Rates action.

Every now and then you might need to correct a mistake in a payment transaction that’s associated with adjustments to foreign currency gains and losses. You can use the Reverse transaction action on the Bank Account Ledger Entries, Customer Ledger Entries, and Vendor Ledger Entries pages to unapply and reverse the payment transaction.

If you’d like to discuss more about Business Central’s many efficiencies and how to use them, or about making the move across to BC, reach out today to Brookland Solutions for a no obligation discussion. Get in touch!