Business Central 2023 wave 2 (BC23) new features: Adjust exchange rates easily, replace the built-in batch job (new “Exchange Rates Adjustment” report)

Hi, Readers.
The public preview for Dynamics 365 Business Central 2023 release wave 2 (BC23) is available. Learn more: Link.

I will continue to test and share some new features that I hope will be helpful.

Adjust exchange rates easily, replace the built-in batch job:

Business value
When companies operate in multiple countries or regions, it’s important that they can do business and run financial reports in more than one currency. Because exchange rates often change, businesses must periodically update the rates in Business Central. This update gives accountants additional control over how they adjust exchange rates. At the same time, partners can now extend and customize the exchange rate adjustment to meet the needs of specific industries or markets.
https://learn.microsoft.com/en-us/dynamics365/release-plan/2023wave2/smb/dynamics365-business-central/adjust-exchange-rates-easily-replace-built-in-batch-job

This feature was first included in the 2023 wave 1 (BC22) release plan, but was moved to this release wave on July 12, 2023.
Features removed from release plan:

To try it out, go to the Feature Management page and Enable use of new extensible exchange rate adjustment, including posting review.

You must sign out and then sign in again to make the changes take effect.

Then when you choose Adjust Exchange Rate on the Currencies page, a new report will open.

Exch. Rate Adjustment (596, Report Request):

But there is still a small problem. When we open the Adjust Exchange Rates report from Tell Me, we still open the previous report and cannot see the new function.

Adjust Exchange Rates (595, Report Request):

Let’s see more details.

You can now preview the effect that an exchange rate adjustment will have on posting before you actually post by choosing the Preview Posting action on the Exch. Rates Adjustment report (Report 596) request page.

Specify whether you want a detailed posting to the general ledger by entry, or a summarized posting by currency, by using the Adjust per entry field.

You can also specify how the adjustment will handle dimensions for unrealized gains and losses postings by choosing one of the following options in the Dimension Posting field:

Source Entry Dimensions: G/L entries for unrealized gains and losses will have dimensions values transferred from the entry you’re adjusting.
No Dimensions: G/L entries for unrealized gains and losses won’t have dimensions values.
G/L Account Dimensions: G/L entries for unrealized gains and losses will have dimensions values transferred from the unrealized gains and losses G/L account’s dimension settings source entry.

Note
Due to local specifics, we don’t recommend that you enable Feature Update: Enable use of new extensible exchange rate adjustment, including posting review in the Swiss (CH) country version.

Great. Give it a try!!!😁

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Hope this will help.

Thanks for reading.

ZHU

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Hope this will help.

Thanks for reading.

ZHU