In today’s world, it’s not uncommon for companies to have multiple bank accounts and dependent on the location of the customer, you may opt for a different currency. With that, there’s a support issue that comes up reasonably frequently: customers want to be able to associate a Currency Code value with a particular bank account. In April 2022, Microsoft standardised a means of achieving this. Today we are going to show you how; fortunately, it’s very simple!
Associating a Currency Code with a Bank Account
In Business Central, on a Bank Account Card, after entering in values for the fields such as the No., Name, Bank Sort Code and Bank Account No., you can actually correlate a bank account with a currency. To do this, in the ‘Posting’ tab, enter in the relevant Currency Code value. Next, toggle the Use as Default for Currency field:
This essentially means that when you define that particular Currency Code on a sales document, this particular bank account will be defaulted in too. You can amend this in instances where you don’t want to use this particular bank account.
Demonstrating this functionality
On a Sales Order record, enter in the Customer No., Item No. and Quantity values. My sales order line looks like this:
Next, in the ‘Invoice Details’ tab, I amend the Currency Code value to be EUR. This automatically amends the Company Bank Account Code value. After doing so, accept the prompt below:
Now, as you can see below, the lines have changed, reflecting the Unit Price in euros:
To clarify, this is in a test system. Whilst I wish this was the current exchange rate, it must’ve been set up a while ago!
Thanks for reading! Hopefully linking currency codes and bank accounts saves you time and stops you from forgetting to change the Company Bank Account on sales records. Despite there being official Microsoft documentation on defaulting a bank account based on a currency, it did take me a little while to find, hence why I figured a blog could be useful. It’s worth noting that this change came about from a suggestion from a user. So if you have any ideas on changes Microsoft can make to the application, be sure to let them know. In short, if you’re desperate for a particular feature, you’ll likely find you’re not alone!
Finally, if you have any comments or questions, please don’t hesitate to contact us.