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preferences form for Multi base currencies setup in a tenant

  • June 14, 2022
  • 5 replies
  • 204 views

nithyashankar
Jr Varsity II
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Hi Team,

 

We are implementing three different companies with different base currencies in a tenant. We have enabled “Multi base currencies” setup for this activity. Three companies will have three different Chart of accounts. Here, my question is how to set up the preferences form specific to the three companies.

 

Awaiting for your valuable reply,

Thanks,

Nithya

Best answer by Kandy Beatty

​​Hi @nithyashankar71 

Are each of the companies going to have separate currencies? You can set each one up with their own base currency.

 

Ensure that your currencies are Active:

 

You can change them on the actual Sales Order:

 

5 replies

Kandy Beatty
Captain II
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  • Captain II
  • Answer
  • June 15, 2022

​​Hi @nithyashankar71 

Are each of the companies going to have separate currencies? You can set each one up with their own base currency.

 

Ensure that your currencies are Active:

 

You can change them on the actual Sales Order:

 


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  • Varsity I
  • May 4, 2023

Hi @kandybeatty49 

Referring to above point, can we have 3 different sets of chart of account for each different base currencies (USD, SGS, MYR) companies?

 

Thanks.


aaghaei
Captain II
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  • Captain II
  • May 4, 2023

Why do you want 3 sets of accounts? They all can use the same chart. The only accounts that will require assigning Base Currency are Cash GL Accounts.


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  • Varsity I
  • May 4, 2023

Hi @aaghaei

 

Thanks for your reply.

one of our prospect has asked whether we can have 2 different sets of GL account or not ?

 

Thanks  


aaghaei
Captain II
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  • Captain II
  • May 4, 2023

The short answer is NO. Each tenant can have only one set of GL Accounts which not only is not a shortcoming but a huge benefit. Its concept is not different than having one set of customers, vendors, … in each tenant.

The long answer is I do not believe anyone really needs more than one set of GL Accounts. If a prospect is asking for it our job is to understand what is the reason behind it. So can you explain why two sets of GL accounts are needed and why they are different and what are the differences? 

If there are specific accounts that only can be accessed by certain companies, then Row-Level security and user groups security is the solution.

 

If you want such a thing then you will need two tenants but you will lose a huge advantage over InterCo and also you must maintain 2 sets of master records for everything.