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dynamiczip:faq:multicurrency_faq

Does DynamicZip allow multicurrency?

Microsoft Dynamics GP performs the tax calculations, not DynamicZip which means using multicurrency should have no effect on DynamicZip functionality.

Microsoft Dynamics GP Sales Transaction Entry breakdown:

  • Originating Currency - The currency based on where a sale took place. For example, a sale into Canada may have an originating currency of Canadian dollars (Z-C$ in the Lesson Company.
  • Functional Currency - The primary currency used by a Microsoft Dynamics GP company. The functional currency is used in sales/purchases tax reports as well as for the financial accounts. A U.S. based company will typically use U.S. dollars for their functional currency (Z-US$ in the Lesson Company.

DynamicZip Tax Reporting breakdown:

  • Currently, the tax reports can only be printed in the functional currency.

Rate & Boundary Database Tax breakdown:

  • Tax Detail can have minimum and maximum taxable or minimum and maximum tax amounts that can be specified per tax detail. These restrictions will be based on the functional currency.
  • In the Rate & Boundary Database the minimum/maximum taxable/tax amounts are all based on U.S. dollars. At the time of this writing there are no known minimum/maximum taxable/tax restrictions for Canadian sales.

Frequently Asked Questions

dynamiczip/faq/multicurrency_faq.txt · Last modified: 2017/09/08 17:28 by conni

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