Login Systems has developed the functionality for automatic download of exchange rates from the National Bank of Macedonia as part of Login Systems' activities to improve Business Central for Macedonian market users. This functionality works on the version Business Central 2024 wave 1 (also known as Business Central 24) and it is compliant with the latest web services method deployed by the National Bank, a.k.a Central Bank of Macedonia (www.nbrm.mk).
As it is known, during every transaction with international entities, such as customers, vendors or bank accounts, Business Central is finding the exchange rate so that the transaction amounts would be posted in the general ledger in the local currency, denars. If exchange rates are not entered regularly, Business Central will take the rate closest to the transaction date. That is why it is important to enter exchange rates in Business Central on a regular basis, preferably every day.
Instead of entering exchange rates manually, Business Central users will be able to update exchange rates automatically or semi-automatically directly from the web service of the National Bank.
An automatic download is done when the procedure is set to run every morning. In such cases, Business Central itself turns to the National Bank and takes over the exchange rates.
A semi-automatic download is when you run the "update rates" command found in the list of currencies in Business Central.
The user may put several currencies with which the company is working, and the exchange rates will be updated only for those currencies that are available in the web service of National Bank of Macedonia.
The functionality for automatic updates of exchange rates is part of Business Central Macedonian localization developed by Login Systems.
More about the localization is available at https://www.loginsystems.biz/lokalizacija-nadopolnuvanja-mk.
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