Currency Manager and Financial Statement Translation Modules in Dynamics SL

Posted by Tiffany Bennett, Senior Consultant on May 8, 2016


The Currency Manager and FST modules serve two different purposes in Dynamics SL.  Currency Manager can be used alone, but Financial Statement Translation requires the Currency Manager module.  Below are the benefits of the two modules, as well as the differences.

Currency Manager:

This module allows users to enter transactions in the SL screens in a foreign currency.  Each company must have a BASE currency defined.  Users can set up different currencies, and set up rates to convert from the foreign currency to the BASE currency.  The currency is first defined here:

Then rates are entered here:

As users enter transactions in a different currency other than the BASE currency, the system will automatically convert the foreign currency to the BASE, using the rates above.  SQL tables store both the original currency as well as the BASE currency.  Users can only run financial reports for their BASE currency, with the Currency Manager module alone.

Financial Statement Translation:

This module allows users to report on separate foreign currency ledgers.  For example, let’s say a company’s base currency is Canadian Dollars.  Their parent company is US Dollars, and they need to run consolidated reports in US dollars.  Therefore, they need to translate the entire ledger from Canadian Dollars to US Dollars, but still be able to report in both currencies.

The FST module allows users to set up different translation rates, based on type of account or range of accounts.  It also allows the user to translate the PTD activity for an account OR the Ending balance for that account.  FST will take an entire ledger and translate it to another currency in a new ledger.  Users can now run financial reports for both currencies.

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