Set Up Your Local Currency (2024)
Setting the local currency (LCY) in Business Central on the General Ledger Setup page: LCY code, symbol and description, with USD as the example. The currencies table should not list the local currency, and order currency codes should be left empty for local currency.
- Introduction to Local Currency Setup
- Accessing General Ledger Setup
- Configuring LCY Code and Symbol
- Setting Currency Description
- Creating Orders with Local Currency
- Verifying Currency in Table
- Conclusion
Overview
The video shows how to set up the local currency, meaning the currency used in the country or region where the business trades domestically. The setup is done on the General Ledger Setup page, using the Tell Me search to open it.
In the demo, the LCY code is set to USD, and the local currency symbol and currency description are filled in. The video then covers creating orders, where the currency code should only be set when it differs from the local currency, and checks the Currencies table to confirm that only foreign trading currencies are listed.
Key points
- Open the General Ledger Setup page (via Tell Me search) to configure the local currency.
- Set the LCY code on General Ledger Setup; the demo uses USD.
- Set the local currency symbol, which is displayed in various places around the system.
- Set a currency description to name the currency.
- On orders, do not specify a currency code unless it differs from the local currency, for example when trading in a foreign currency.
- Make sure the local currency is not listed in the Currencies table; only foreign currencies you trade in should appear there.
Features
| Feature | Status | At |
|---|---|---|
| Local Currency Setup | status not stated, demoed | 0:01 |
| LCY Code Configuration | status not stated, demoed | 0:30 |
| Local Currency Symbol Configuration | status not stated, demoed | 0:30 |
| Currency Description | status not stated, demoed | 0:47 |
| Currency Code in Orders | status not stated | 0:57 |
| Currencies Table Verification | status not stated, demoed | 1:10 |
AL objects mentioned
As heard in the captions. A name that matches one object page by exact type and name links to it; the others stay as named.
- page 118 “General Ledger Setup” at 0:13
- table “Currencies” at 1:10
Not found in BC28-30: table “Currencies”.
Quotes
- 0:01 “you can set up your local currency that is the currency that you use in the country or region where you trade domestically”
- 0:30 “I’ll find the lcy code which is the local currency code it’s set to US dollar so USD which is what I want”
- 0:30 “I also set the local currency symol which is what will display at various places around the system”
- 0:57 “it’s important that you don’t specify the currency code unless it’s different from your local currency for example if you trade in a foreign”
- 1:10 “make sure that your currency is not listed among the currencies in the currencies table let’s just check that”
- 1:24 “only the currencies in which I also trade are listed”