This error appears if the account code doesn't have access to the Currency that assigned in the transaction.
There are 2 ways to work on this, you can assign the currency access to account individually, or you can assign to all account using mass update.
Assigning Currency to an Account
PATH: Card > Financial > Account Currencies
1. Enter of select an account.
2. Mark Revalue Account if you need to perform revaluation on this account. Normally this will be marked if this is Bank Account code. Then, select whether you need to revalue the account based on net change amounts or period balances. Also, select whether to post the result to the account or the financial offset.
3. Select the Translation Type. This is useful when creating translated financial reports in Management Reporter when you have multiple entities in GP which reporting in different currency:-
a. Current - Eg. Balance Sheet Accounts
b. Average – Eg. Profit and Loss Accounts
c. Historical – Eg. Share capital/Retained Earnings/Investment in stocks
4. Select the currencies you want to use when you post transaction to the selected account. You have option to choose Mark All or Unmark All shown in the scrolling window.
5. Click <Save> to save your entries.
Assigning currencies using Mass Update
This is useful if there are a range of accounts need to update.
PATH: Card > Financial > Currency Account Update
1. Enter or select a segment ID and select from range of account segments.
2. Click <Insert> to insert the range into Restrictions list. All accounts that meet all restrictions you’ve entered will be updated. If you don’t enter an account range, all accounts in the chart of accounts will be updated.
3. Mark <Update Currencies> to update the currencies associated with the accounts in selected range. When you mark this option, the Display, Currency ID, and Currencies fields become available.
4. Mark <Select Currencies> or <All Currencies> that will be associated with the account in the range.
5. Select <Mark> to assign the selected currencies to the accounts in the range, or select <Unmark> to un-assign the selected currencies.
6. Mark <Update Revalue Option> to update the Revalue Account selection in the Select Account Currencies window for the accounts in the selected range. When you mark this option, the Revalue, By and Post Results To fields become available.
7. Select <Mark> to revalue the accounts in the range or <Unmark> to not revalue.
8. Choose whether to revalue the account range based on net change amount or period balances, if you choose to revalue.
9. Choose whether to post the revaluation result to the account or the financial offset. Posting to the account is more accurate.
10. Select “Update Currency Translation” and select the Translation Type. Make sure the range of accounts is not mix of different account posting type.
a. Current - Eg. Limit to Balance Sheet Accounts only
b. Average – Eg. Limit to Profit and Loss Accounts only
c. Historical – Eg. Limit to Share capital Accounts only
11. Click <Update> to update the accounts in the selected range.
There are 2 ways to work on this, you can assign the currency access to account individually, or you can assign to all account using mass update.
Assigning Currency to an Account
PATH: Card > Financial > Account Currencies
1. Enter of select an account.
2. Mark Revalue Account if you need to perform revaluation on this account. Normally this will be marked if this is Bank Account code. Then, select whether you need to revalue the account based on net change amounts or period balances. Also, select whether to post the result to the account or the financial offset.
3. Select the Translation Type. This is useful when creating translated financial reports in Management Reporter when you have multiple entities in GP which reporting in different currency:-
a. Current - Eg. Balance Sheet Accounts
b. Average – Eg. Profit and Loss Accounts
c. Historical – Eg. Share capital/Retained Earnings/Investment in stocks
4. Select the currencies you want to use when you post transaction to the selected account. You have option to choose Mark All or Unmark All shown in the scrolling window.
5. Click <Save> to save your entries.
Assigning currencies using Mass Update
This is useful if there are a range of accounts need to update.
PATH: Card > Financial > Currency Account Update
1. Enter or select a segment ID and select from range of account segments.
2. Click <Insert> to insert the range into Restrictions list. All accounts that meet all restrictions you’ve entered will be updated. If you don’t enter an account range, all accounts in the chart of accounts will be updated.
3. Mark <Update Currencies> to update the currencies associated with the accounts in selected range. When you mark this option, the Display, Currency ID, and Currencies fields become available.
4. Mark <Select Currencies> or <All Currencies> that will be associated with the account in the range.
5. Select <Mark> to assign the selected currencies to the accounts in the range, or select <Unmark> to un-assign the selected currencies.
6. Mark <Update Revalue Option> to update the Revalue Account selection in the Select Account Currencies window for the accounts in the selected range. When you mark this option, the Revalue, By and Post Results To fields become available.
7. Select <Mark> to revalue the accounts in the range or <Unmark> to not revalue.
8. Choose whether to revalue the account range based on net change amount or period balances, if you choose to revalue.
9. Choose whether to post the revaluation result to the account or the financial offset. Posting to the account is more accurate.
10. Select “Update Currency Translation” and select the Translation Type. Make sure the range of accounts is not mix of different account posting type.
a. Current - Eg. Limit to Balance Sheet Accounts only
b. Average – Eg. Limit to Profit and Loss Accounts only
c. Historical – Eg. Limit to Share capital Accounts only
11. Click <Update> to update the accounts in the selected range.
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